QMS 102 Study Guide - Final Guide: Total Quality Management, Scenario Planning, Strategic Management

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Risk taking behavior that results in new opportunities. Sole proprietorship when individual pursues business for a profit. Where 2 or more ppl agree to contribute resources to start and operate a business together. Legal entity that exists separately from its owners. Hybrid business form combing advantages of the sole prop. , partnership and corporation: review the financing options available to new ventures. Offering borrowing money that must be repaid over time with interest exchanging ownership share for outside investment monies. Making large investments in new ventures in return for an equity stake in the business. Initial selling of share of stock to the public at large: review the stages in the life cycle of an entrepreneurial firm. Fighting for existence and survival: review the cupcake lecture. Investing wisely and staying flexible: mission: celebrate everyday their focus: branding and marketing, had many challenges starting the business but learned as they operated, concepts to review.

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