BBG 101 Lecture Notes - Lecture 19: Tax Avoidance
2 Nov 2020
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Document Summary
Market consumers with unsatisfied wants and needs who have both resources and willingness to buy. Set out to fill the market"s needs by offering top quality and great service at a fair price. One of the great advantages of small businesses is the ability to know the market and quickly adapt to market needs. Hiring, training, and motivation employees is critical. Employees of small companies are often more satisfied with their jobs they feel challenged and respected. Entrepreneurs best serve themselves and the business if they recruit and groom employees for management positions. Computers simplify the process by helping with inventory control, customer records, and payroll. Deciding whether to buy or lease equipment. Deciding whether to own or rent a building. Owners need outside consulting advice early in the process. Small and medium-sized firms cannot afford to hire experts as employees. Marketing decisions need to be made long before introducing a product or opening a store.
