BUS 200 Lecture Notes - Lecture 4: Self-Checkout, Value Proposition, Business Model Canvas

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New venture: a recently formed commercial organization that sells goods/ and or services. Firms with 100 or less employees (goods) or 50 or less (service) Process of identifying an opportunity and mobilizing ( accessing) the resources necessary. Often focused on the local market often focused on global or super-local. Entrepreneurship as a process: identifying an opportunity. Generating new ideas ( screening: develop the concept. Developing the business model & business plan. (plan that plans logic and how business will make money) (what this lecture is about: determine the required resources. Financial, human and other resources bootstrapping: doing more with less (ex; working in your garage instead of a big office: acquire the necessary resources. Human: incubators: implement and manage, harvest the venture. Rationale of how organizations creates, delivers and captures value. Defines the different groups of people or organizations the enterprise aims to reach and serve. Ex; a bank that segments customers by assets.

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