ADM 1300 Lecture Notes - Petro-Canada, Double Taxation, Onchocerciasis

• School: University of Ottawa
• Department: Administration
• Course: ADM 1300
• Professor: Matthew Archibald

Document Summary

Chapter 6&5 entrepreneurship & options for business ownership. Chapter 6 the entrepreneur, what is a business plan , how do we get money etc. Chapter 5 what are the types of business. Both: expands beyond the textbook (value added for coming to class) The entrepreneur recognize & seize an opportunity recognize seize an opp that exists in the marketplace to create a business. Find a niche in the marketplace, do it better than others ,etc. Competitive advantage: what makes you better than anybody else. Low exit costs: if it doesn"t work out, will you go bankrupt getting out of the business: development. Develop a business plan swat analysis finance and budgeting where are you getting your money from and what is the forecast. Mission statement what is your reason for existence. The business plan also helps when you are trying to get financing the bank or investors etc will want to see your plan.