Watch this with a 10-15 minute audiotrack at http://vimeo.com/novusprogram/lesson22
This lesson will discuss Michael Porter's economic theory about various forces that can affect the success of a business and the decisions that need to be made before starting a business. It will apply each particular force to small businesses to illustrate the core concepts and how small businesses can be impacted by industry competition.
The Novus project is a combination of video tutorials designed to be used in conjunction with a free business simulation software program. The Novus Business and IT Program contains 36 business and IT training videos, covering basic finance, accounting, marketing, economics, business strategy, Word, Excel, and PowerPoint. Users will have an opportunity to apply the lessons in the Novus Business Simulator. Over six rounds, the user or teams will have to make decisions on capital purchases, financing, production, financing, and human resources for a microbrewery. This channel has arranged the 36 video lessons into the order in which they are meant to be used with the simulator. To watch this slideshow as a video, please go to our Vimeo page at: https://vimeo.com/novusprogram. To download our free business simulation software, please go to our SourceForge page at: http://sourceforge.net/projects/novus/.