RTA 315 Lecture Notes - Lecture 7: Straddle, Internal Control
21 Mar 2020
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Document Summary
What is entrepreneurship: literal meaning, entre between. Between what: preneur someone who takes . Takes what: common de nition, a person who organizes and operates a business or businesses, taking on greater than normal. Nancial risks in order to do so. : is entrepreneurship a job, business and risk are the essential elements, organizational life cycle, 1. Revival: basic business strategy, what is a competitive advantage, operational effectiveness, strategic positioning, operational effectiveness, ef ciency. Monday, march 2, 2020: technology/innovation, new distribution channels, three kinds of strategic positioning unique valuable activities, 1. Variety based: special type of product(s), eg, 2. Needs based: focus on particular needs of speci c customers, eg, 3. Consistency between activities and strategy: focus and discipline, 2. Activities are reinforcing: product and marketing efforts synergized, 3. Devise unique competitive advantage for company: 2. Make clear trade-offs vis a vis competitors: 4. Make sure there is a t across all business activities: 5.
