BU111 Lecture Notes - Market Impact, Lead Generation, Sensitivity Analysis
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BU111 Full Course Notes
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Market potential: the total amount that consumers might buy, under the right circumstances. Sales forecast: the amount you think you can sell using your plan. Growth rate over last x years continues (for existing or modified products) Sales of a company that launched a similar product. Last year"s sales +/- (for existing or modified products) Entrepreneurs : recognize and seize opportunities to control their own destiny + 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 starting a business involves dealing with much uncertainty, every new venture founder must exercise some of the personal attributes of an entrepreneur. Brings knowledge, expertise, capabilities, resources & managerial preferences/bias (diamond e) An owner-managed business with less than 100 employees. While large businesses have more employees, small businesses collectively provide more jobs than large businesses.