BUS 201 Lecture Notes - Lecture 6: Variable Cost, Customer Retention, Value Proposition

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 201
• Professor: Christian Venhuizen

Document Summary

Spinoff or people from your existing company go on new venture. Companies that have abundant and high-quality resources (abundant= cash, high quality= good employees) Problem with resources that many firms have- (cid:271)e(cid:272)o(cid:373)e depe(cid:374)de(cid:374)t, do(cid:374)"t ha(cid:448)e resour(cid:272)es required for new ventures. One dilemma of management (cid:374)ot taki(cid:374)g i(cid:374)to a(cid:272)(cid:272)ou(cid:374)t all that is a(cid:448)aila(cid:271)le, people do(cid:374)"t like change, someone gets used to their processes and cannot adapt to change. Values- standards which employees, there is a language which is a part of business must know business definition of values. First value- (cid:449)ay a (cid:272)o(cid:373)pa(cid:374)y judge"s digital (cid:449)orld. Sustaining innovations- innovations that improve a product in an existing market. Disruptive innovations- create new product in a completely new market and force companies in another market to react. Alex created bmc with phd advisor, tested it on entrepreneurs, adopted by lean start-up movement, incorporated it into courses. Flexibility- make change on the canvas versus sifting through 40 pages.