BUS 082 Lecture Notes - Lecture 2: Customer Service
23 Sep 2020
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Entrepreneurs risk money, time, health reputation to start businesses. The freedom to own you company and earn wealth also confers the freedom to fail. The business is you baby, you have to raise it. To the extent that your country has these things is probably the extent you can get wealthy. If you economy is based on agriculture, and you control land, you will become wealthy because it"s the main factor. If you economy is based on labor manufacturing, if you control labor or attract the best labor you can get wealthy. Capital does not mean money (plant and equipment) Especially important in high tech and building, you have to have the latest technology to be at the top of the pack. These last two elements are what drives work today. Ibm lost a lot of customers due to apple"s upward movement. Knowledge is what drives entrepreneurship, and basically everything else.
