BU111 Lecture Notes - Lecture 2: Match Game, Small Business, Social Business
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BU111 Full Course Notes
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Document Summary
New venture recently formed commercial organization that sells. Entrepreneurship identifying an opportunity and accessing resources to. Small business owner-managed, not dominant in market, <100 employees capitalize on it. 98. 1% of all businesses in canada are small. New ventures lead in new products and services. Influenced by pest: more and more people are looking for opportunities. Successful only when entrepreneur, opportunity, and resources fit. Three key elements: the entrepreneur, the opportunity, resources. Needs to decide whether the opportunity is something he or she can do and wants to do. Eliminate ventures that are of limited personal interest and require skills and abilities that do not fit the entrepreneur. No matter how good the product or service is, the product changes shape and may demand skills an individual lacks. Prompts decisions to acquire the needed skills by forming a. Opportunity-resources fit: team or getting further training. Involves determining whether the resources needed to capitalize on the opportunity can be acquired.
