BUSS1000 Lecture Notes - Lecture 12: Production Function, Business Model Canvas, Customer Retention
27 Jul 2018
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Document Summary
Entrepreneurship: someone who starts their own business, especially when this involves seeing a new opportunity. Richard cantillion: early economist and writer of essay of the nature of trade in. General proliferates idea of entrepreneurship: entrepreneur buy at certain prices and sell at uncertain prices, entrepreneur is the bearer of uncertainty. Intrapreneur: an employee within a large company who takes direct responsibility for turning an idea into a profitable new product, service, business etc. often instead of leaving to start their own company. Ambiguities: who are entrepreneurs, where do they operate, who can be e etc. New entry essential act of entrepreneurship; the act of launching a new venture, either by a start-up firm, through an existing firm, or via internal corporate venturing . Can be accomplished by entering new/established markets with new/existing goods or services. Innovator who implements change within markets through carrying out of new combinations: Introduction of a new good or quality thereof.
