Business Administration 1220E Study Guide - Final Guide: Pilates, Income Statement, Fixed Cost

• School: Western University
• Department: Business Administration
• Course: Business Administration 1220E
• Professor: Raza Khan

Document Summary

Common personal goals: start a career start a family/financial security end a career retire/seek financial security passion project protagonist wants to change industry, cares about product"s impact, entrepreneurial. Common professional goals: revenue growth market share profit growth satisfy outside investors. Political: laws enacted by government/other bodies usually some type of impediment (i. e. government now requires special permit to ) implication: makes one type of option more difficult to execute, therefore less likely to choose. Technological: often some type of e-commerce or mobile phone related factor (i. e. mobile devices now account for. 14% of all purchase for cat-related paraphernalia) implication: a trend to either follow, or differentiate from in order to stand out. Often two types of competitors: giant conglomerate with lots of resources. Pros: established brand, strong marketing budget, loyal customers. Cons: product quality usually average/below average, some type of lack of customization. Cons: product/service lacks whatever our company"s competitive advantage is.