BU111 Lecture Notes - Lecture 3: Muhammad Yunus, Social Capital, Grameen Bank
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Market potenial: the total amount that consumers might buy, under the right circumstances. Sales forecast: the amount you think you can sell using your plan. Sales of a company that launched a similar product. Last year"s sales +/- (for exising or modiied products) Growth rate over last x years coninues (for exising or modiied products) Entrepreneurs : recognize and seize opportuniies to control their own desiny + access the resources needed to capitalize on that opportunity. Even successful businesses have disappointments and failures, but true entrepreneurs know how to overcome them, reduce their losses, and to capitalize on the best available opportunity. Because staring a business involves dealing with much uncertainty, every new venture founder must exercise some of the personal atributes of an entrepreneur. Brings knowledge, experise, capabiliies, resources & managerial preferences/bias (diamond e) An owner-managed business with less than 100 employees. While large businesses have more employees, small businesses collecively provide more jobs than large businesses.
