COMM 320 Study Guide - Midterm Guide: Switching Barriers, Competitive Intelligence, Core Competency
31 Oct 2016
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Document Summary
Entrepreneurs is the process by which individuals pursue opportunities w/o regard to the resources they currently control. Main reason for individuals to become entrepreneurs: Passion for business* (drives the person to do more to achieve their goal) Entrepreneurial firms: bring new products & services into the market by seizing the opportunities in the market. Salary-substitute firms: seek to earn what they would, if still employed. Lifestyle firm: entrepreneurs can pursue a desire to experience certain lifestyle. Changes in demographics -the u. s is consistently changing as is the world. Active minors (women, seniors, young and minorities) are becoming entrepreneurs and are doing so successfully. Impact on society positive effects of entrepreneurial rms and entrepreneurship on economies and societies are: Helps society as their products and services help make our lives easier, more productive and helped our heath. It also helps larger corporations as their business models around produce products and services that help rms increase ef ciency and effectiveness.
