BSM 100 Lecture 1: WEEK 1_ In-Class Notes
11 Oct 2018
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The new business - bsm 100 - week 1 notes. Issues an entrepreneur faces when starting a business. The need to gain a sense of the market. The first thing any entrepreneur needs is a new idea. In either the midterm or the final exam there will be a question to explain a great entrepreneur in your opinion. Companies that are successful did not set out to make money, they set out to make meaning. Consumers > when the wants and needs change, consumers will desire different things. More functionality or more quality is typically desired. State & economy > recession vs. boom time. Internally caused change > positive or negative. Technology > affects the way you market, what you sell, and how you sell it. We need information, which can be obtained through social networking. The players, products, markets, reasons, time, mode of payment > constant churn. Companies are being launched and grow faster than ever.
