COMM 320 Lecture Notes - Lecture 1: Richard Branson, Yelp, Takers
5 Dec 2018
School
Department
Course
Professor
Document Summary
Entrepreneur between the risk to take risk takers. An inventor creates something new, an entrepreneur assembles and then integrates all resources needed (the money, the people, the business model, the strategy, and the risk-bearing ability) to transform the invention into a business. Established firms can also act entrepreneurially by being proactive, innovative, and risk-taking. Either they have had a long-time ambition to own their own firm or they"re frustrated working regular jobs. Recognize ideas for new products or services, and desire to realize these ideas. Can innovate within the corporation as well by getting peoples ideas out there. Some employees decide to leave for this reason. For others it"s a hobby, part of everyday life: pursue financial rewards. The number one characteristic, whether for a new business or an existing one (richard branson for virgin mobile). Also important to realize potential flaws and risks.
