BUSN 1101 Lecture Notes - Lecture 16: Shampoo, Social Media Marketing, Interruption Marketing
16 Dec 2016
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Chapter 5: the challenge of starting a business. Someone who identifies a business opportunity and assumes the risk of creating and running a business to take advantage of it. Small business administration (sba): independent agency of the us government catering to small business needs. 27 million small businesses generate 50% of. Importance supply components needed by big companies (outsourcing) create jobs spark innovation. Industry: group of companies that compete selling similar products, 2 broad sectors. Goods-producing sector: businesses that produce tangible goods (construction & manufacturing) small, focused on local projects. Service-producing sector: businesses that produce services including professional, business, or personal (retailers & wholesalers) Retailers: buy goods from other firms and resell them to customers, in-store, by phone, mail, or internet. Wholesalers: sell products to businesses that buy them for resale or company use. Crowdsourcing: inviting broad communities of people into the new-product innovation process.
