Ch. 9 Marketing
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Marketing involves more than just advertising and selling. It is defined as the set of activities involved in moving products from producers to consumers. This includes planning, pricing, promoting, and distributing goods and services. Major organizations involved in marketing include retailers that sell directly to consumers, and wholesalers that buy from producers and sell to other businesses. Before production, companies must determine their target market through market research to identify who their buyers will be. They then focus their marketing efforts on that target market. The four Ps of marketing - product, price, place, and promotion - make up a company's marketing mix.
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Ch. 10 Hire And Manage A Staff
The document discusses how to hire and manage staff for a business. It covers creating job descriptions and specifications, recruiting employees through various methods like classified ads and employment agencies, conducting effective interviews with prepared questions and notes, and creating a compensation package for employees. This includes determining wages, salaries, and different pay structures like commission plans or piece-rate plans to pay employees.
Ch. 5 Business Plan
The document outlines the key elements that should be included in an effective business plan. It discusses that a business plan is used to convince lenders and investors of the viability of a business idea. The seven core elements that should be included are: history and background of the idea, goals and objectives, products/services, ownership structure, management team, marketing plan, and current and projected financial statements. Additional optional elements could include details on location, technology used, and business ethics.
Ch. 7 Financial Planning
Before approaching lenders or investors, entrepreneurs must create solid financial statements projecting their business's first-year performance, including pro forma statements. Pro forma statements include a start-up costs list, cash flow statement forecasting revenues and expenses, and balance sheet using the accounting equation of assets equaling liabilities plus owner's equity. The financial statements are based on the entrepreneur's forecasts and help secure financing.
Technology
The document discusses technology and business ownership. It covers computers and operating systems like Windows and Linux. It describes management information systems (MIS) that integrate data across departments. The Internet is introduced as a worldwide network allowing electronic communication. ARPANET was an early defense network that led to the Internet. Intranets share resources within companies while extranets share data externally. E-mail and e-commerce using online buying and selling are also discussed. Dot-com businesses do most operations online. Finally, Web 2.0 involves collaborative websites and social networking.
Ch. 4 Type Of Ownership
The document discusses different types of business ownership structures including franchising, starting your own business, and legal forms of business. It describes franchising agreements and costs. It outlines advantages and disadvantages of starting your own business. Finally, it defines sole proprietorships, partnerships, and corporations as the three main legal forms of business ownership and provides brief descriptions of each.
Ch. 2 Entrepreneurship Skills
This document discusses communication, problem-solving, and decision-making skills important for entrepreneurs. It covers writing effective business letters and memos, speaking skills for phone calls and customer interactions, listening skills, and a problem-solving model of defining the problem, gathering information, identifying solutions, evaluating alternatives, taking action, and evaluating the results. It also describes brainstorming and consensus-based decision making techniques for group problem solving.
Ch. 14 Legal And Ethical
The document discusses legal and ethical obligations for businesses. It covers laws around patents, copyrights, and trademarks that protect inventions, creative works, and brand names. It also discusses ethics, defining it as the study of moral choices and values. Business ethics applies ethical principles to workplace issues. Companies often adopt a code of ethics to define their values and rules around respecting individuals, fairness, honesty and other standards. The document provides examples of laws and guidelines around equal employment, sexual harassment, and ethical decision-making.
Ch. 3 Market Economy
The document discusses different types of economic systems and concepts in business ownership and market economies. It explains that in a market economy, individuals and businesses decide what to produce based on supply and demand. When supply and demand are equal it reaches an equilibrium price and quantity. The US operates under a market economy where private individuals and groups make decisions rather than the government. It also discusses the concepts of fixed and variable costs that businesses consider to determine prices and profits.
Ch. 1 Should You Become And Entrepreneur
This document discusses what it means to be an entrepreneur and whether becoming an entrepreneur is the right path. It defines entrepreneurs as people who own, operate, and take on the risks of starting a business venture. Successful entrepreneurs tend to be independent, self-confident, determined, goal-oriented, and creative. The document encourages readers to do a self-assessment to evaluate their strengths and weaknesses to determine if they have the aptitude and temperament to be entrepreneurs. It also lists some advantages like being your own boss but also disadvantages like the risks, long hours, and responsibility for all decisions.
How to Link your PPT
The document provides instructions for linking presentations uploaded to Slideshare.net. It outlines the steps to create an account, upload a presentation, publish it with a title and description, view the uploaded slides, copy the specific slide link, and paste that link into an online class blog with a message to share the presentation.
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How to Link to Your PPT
The document provides instructions for linking presentations on Slideshare.net in 3 steps: create an account with a username and password, upload a presentation by browsing for the file and publishing it with a title and description, and then view the presentation and embed individual slides by copying the specific slide link.
Etec Group Project
The document provides an overview of PowerPoint, including its uses, features, and functions such as hyperlinks, branching, and posting presentations to blogs. It discusses how to create internal and external hyperlinks, the difference between the two, and how branching allows moving slides that are hidden. Resources for PowerPoint tutorials and tips are also listed.
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Ch. 9 Marketing
- 1. Chapter 9-Marketing Business Ownership Spring 2007 Williams C. Greene, (2000). Entrepreneurship Ideas in Action. Cincinnati, OH: South-Western.
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