ENT 526- Final Exam Guide - Comprehensive Notes for the exam ( 69 pages long!)

• School: Ryerson University
• Department: Entrepreneurship and Strategy
• Course: ENT 526
• Professor: Sean Wise

Document Summary

A start-up is a new organization searching for a sustainable, repeatable, scalable, business model. A business model is how you take x turn it into y and sell it for z. To sustain you must make more money over a long period than you cost. When you have found your repeatable, sustainable, scalable business model. The success bias: you only really hear about the successes, not the failures; thus skews public perception of how easy it is to succeed and an entrepreneurial. An entrepreneur is a person who destroys the existing economic order by introducing new products and services, by introducing new methods of production, by creating new forms of organization, or by exploiting new raw materials. Creative destruction is the theory behind every massive start-up. In order to displace what exists today, you must be exponentially better i. e. , uber killed the taxi industry.