BU111 Lecture Notes - Market Structure, Switching Barriers, Market Impact

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3 Oct 2013
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How do you know if you have a good idea? (3 points) Apply the screening process to a product or service. What is the different between a charity and social business. Who are the stakeholders in a social business. Identify a social business and describe how the key facets are illustrated in it. New venture recently formed commercial organization that sells goods/services: less than 5 years, product or service. Entrepreneurship identifying an opportunity and accessing resources to capitalize on it: large corporations do it to to remain in alignment with the environment. Identify opportunity: from the external environment that opportunities come, and that you are going to chase. Access resources: pest exists in the environment. Successful only when the entrepreneur, opportunity and resources match: alignment and consistency, what is on the inside has to match on the outside (environment, entrepreneur: Determines where resources (money and human resources) will come from and what strategies to use.

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