MARK 201 Lecture Notes - Lecture 7: Minimum Viable Product, The Lead, Franchising

• School: Concordia University
• Department: Marketing
• Course: MARK 201
• Professor: Robby D.Saks

Document Summary

Entrepreneur: someone who perceives an opportunity and builds an organization to pursue that opportunity. Entrepreneurship is the process of starting a business or other organization. The entrepreneur chooses/develops a business model, acquires the human and other required resources and is fully responsible for its success or failure. Eentrepreneurship involves all the functions, activities, and actions associated with perceiving opportunities and creating organizations to pursue them. These include: market and customer research, service and product innovation, team building, finding & managing resources, leadership. *there"s also: financial rewards, making a business out of their passion, loss of job, desire to be your own boss, legacy (becoming known for running a successful company, think steve jobs, lol yeah taxes too. **how they come up with ideas, how they develop ideas, how they assess and see if their ideas can work and can they be developed to create the opportunities**