COMM 103 Lecture 6: Chapter 15

• School: Queen's University
• Department: Commerce
• Course: COMM 103
• Professor: Gregory Libitz

Document Summary

Entrepreneur- refers to a person who starts a business and is. Thursday, january 14, 2016 comm 103 - page 1 of 1. Chapter 15: analyzing new business ventures willing to accept the risk associated with investing money in order to make money. One of most important skills is evaluating a business venture. Explain the element of risk in new business ventures. Six phases associated with venture assessment: market analysis, value advantage (differentiators, financial analysis (economic logic, operations analysis (value chain and crm, management competency analysis (merfs model, exit options. Idea is to try to define certainty of success, search for fatal flaws o. Inadequate pricing models, undercapitalization, weak management, insufficient marketing research, poor industry assessment, absence of execution strategy. Need to determine whether they can overcome these barriers. Huge uncertainty involved with new ventures, even with franchises with proven business models and ways to project revenues.