BSM 100- Final Exam Guide - Comprehensive Notes for the exam ( 25 pages long!)
30 Nov 2017
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Document Summary
Issues an entrepreneur faces starting a business: gaps in market, problem solving, customers, target audience, capital/funding/break-even, risk/communicating ideas, employees (attracting resources), human capital, systems/processes. Role of business in society: improves economy, creates jobs, wellbeing, prosperity, ripple effect of improvement, innovation. Jeff bezos: changed the way that shopping was done with amazon online. Steve jobs: innovated the way that computers were used in school and in the workplace. Oprah: started the first afternoon talk show and it took off. Bill gates: philanthropist, started his own foundation so that money reaches the right people. Martha stewart: first to be very successful with home living, cookbooks, etc. Set out new business to make meaning, not money: Competition - need to be better than competitors, forces change for the better. Tuned into new competitors, what they are doing differently. Technology - from other industries changing the market, leading to innovation. Trends/environment - natural disasters, aging, new fashion, ideas.
