MGMT 1 Chapter Notes - Chapter 6: Angel Investor, Business Plan, Small Business Administration
Document Summary
Can sell product at price customers willing and able to pay while making profit. Can get product to customers before window of opportunity closes. Entrepreneurial team: groups of experienced people from different area of business who join together to form management team with skills needed to develop, make, and market new product. Ensure more cooperation and coordination later among functions in business. Micropreneurs: entrepreneurs willing to accept risk of starting and managing type of business that remains small, lets them do kind of work they want to do, and offers them balanced lifestyle. Challenges for work at home: getting new customers, managing time, keeping work and family separate, abiding by city ordinances, managing risk. Affiliate marketing: online marketing strategy in which business rewards individuals for each visitor the affiliate sends to its website. Intrapreneurs: creative people who work as entrepreneurs within corporations. Use (cid:272)o(cid:373)pa(cid:374)(cid:455)"s e(cid:454)isti(cid:374)g resour(cid:272)es to lau(cid:374)ch new products and generate new profits.
