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- https://biz.libretexts.org/Bookshelves/Business/Entrepreneurship/Entrepreneurship_(OpenStax)/13%3A_Business_Structure_Options-_Legal_Tax_and_Risk_Issues/13.12%3A_Case_QuestionsThe Big University football team, a member of the Southeastern Conference (SEC), brings in over $100 million a year in revenue, including TV rights, ticket sales, and bowl games. Some close family mem...The Big University football team, a member of the Southeastern Conference (SEC), brings in over $100 million a year in revenue, including TV rights, ticket sales, and bowl games. Some close family members decide it would be a good idea to buy a house in the college town and then rent it out to students, with you also living there and actively managing it.
- https://biz.libretexts.org/Bookshelves/Business/Entrepreneurship/Entrepreneurship_(OpenStax)/14%3A_Fundamentals_of_Resource_Planning/14.03%3A_Managing_Resources_over_the_Venture_Life_CycleHuman resources are the people needed to support the current and future growth of the venture, and help the company increase production and the provision of services, as well as help with the administ...Human resources are the people needed to support the current and future growth of the venture, and help the company increase production and the provision of services, as well as help with the administrative tasks required to operate the business.
- https://biz.libretexts.org/Bookshelves/Business/Entrepreneurship/Entrepreneurship_(OpenStax)/04%3A_Creativity_Innovation_and_Invention/4.02%3A_Creativity_Innovation_and_Invention-_How_They_DifferEntrepreneurs in the process of developing an innovation usually examine the current products and services their firm offers, investigate new technologies and techniques being introduced in the market...Entrepreneurs in the process of developing an innovation usually examine the current products and services their firm offers, investigate new technologies and techniques being introduced in the marketplace or in related marketplaces, watch research and development in universities and in other companies, and pursue new developments that are likely to fit one of two conditions: an innovation that likely fits an existing market better than other products or services being offered; or an innovation…
- https://biz.libretexts.org/Bookshelves/Business/Entrepreneurship/Entrepreneurship_(OpenStax)/12%3A_Building_Networks_and_Foundations/12.01%3A_Building_and_Connecting_to_NetworksIn 2012, the SBA merged with the divisions of the Department of Commerce, the Office of the US Trade Representative, the Export-Import Bank, the Overseas Private Investment Corporation, and the US Tra...In 2012, the SBA merged with the divisions of the Department of Commerce, the Office of the US Trade Representative, the Export-Import Bank, the Overseas Private Investment Corporation, and the US Trade and Development Agency. Free education and training materials are available from the SBA to introduce new businesses to the types of products that the government buys, the government’s purchasing process for products and services, and the technical terms the government uses.
- https://biz.libretexts.org/Bookshelves/Business/Entrepreneurship/Entrepreneurship_(OpenStax)/07%3A_Telling_Your_Entrepreneurial_Story_and_Pitching_the_Idea/7.01%3A_Clarifying_Your_Vision_Mission_and_GoalsFor example, the American Red Cross, one of the oldest and most well-known relief organization in the United States, has a very specific mission statement: “The American Red Cross prevents and allevia...For example, the American Red Cross, one of the oldest and most well-known relief organization in the United States, has a very specific mission statement: “The American Red Cross prevents and alleviates human suffering in the face of emergencies by mobilizing the power of volunteers and the generosity of donors.” 7 Defining an organization’s mission clearly and specifically is essential for success.
- https://biz.libretexts.org/Bookshelves/Business/Entrepreneurship/Entrepreneurship_(OpenStax)/12%3A_Building_Networks_and_Foundations/12.07%3A_Discussion_QuestionsHow is the role of government agencies with regard to entrepreneurship different from the roles of industry and trade associations? If the new business owner keeps a schedule only in their head and do...How is the role of government agencies with regard to entrepreneurship different from the roles of industry and trade associations? If the new business owner keeps a schedule only in their head and does not write it down, what might be some weaknesses of that idea? How does the term “division of labor” apply to the concepts of “jack of all trades” and “specialist”? How do the needs of a small business and its founder change from the startup stage to the growth stage?
- https://biz.libretexts.org/Bookshelves/Business/Entrepreneurship/Entrepreneurship_(OpenStax)/14%3A_Fundamentals_of_Resource_Planning/14.08%3A_Case_QuestionsIf she does hire staff, she will need to consider the cost of labor, how many hours she would need each of these staff, and the tasks she would need them to perform at this stage in her business opera...If she does hire staff, she will need to consider the cost of labor, how many hours she would need each of these staff, and the tasks she would need them to perform at this stage in her business operation. As a result, she will need to consider their wages as a cost of labor on top of all the other supplies, insurance, rent, advertising, point-of-sale equipment, and various other costs she did not have when she was operating out of her home.
- https://biz.libretexts.org/Bookshelves/Business/Entrepreneurship/Entrepreneurship_(OpenStax)/14%3A_Fundamentals_of_Resource_Planning/14.04%3A_Key_Termsinflation, interest, employment, and currency exchange, rates, (among many other factors) that impact the business owner’s pricing of goods or services, the demand for such services, and the cost of p...inflation, interest, employment, and currency exchange, rates, (among many other factors) that impact the business owner’s pricing of goods or services, the demand for such services, and the cost of production registration that provides the owner the ability to use a name, symbol, jingle, or character in conjunction with a specific product or service, and prevents others from using those same symbols to sell their products
- https://biz.libretexts.org/Bookshelves/Business/Entrepreneurship/Entrepreneurship_(OpenStax)/02%3A_The_Entrepreneurial_Journey_and_Pathways/2.06%3A_SummaryFor now, gaining a perspective on the entire process provides you with a background understanding of what an entrepreneurial venture involves, from ideation through creating the venture to harvesting ...For now, gaining a perspective on the entire process provides you with a background understanding of what an entrepreneurial venture involves, from ideation through creating the venture to harvesting the venture with the potential to begin the process all over again with a new idea. Being open to the idea of becoming an entrepreneur provides you with the potential to identify a unique opportunity that fits your interests and goals.
- https://biz.libretexts.org/Bookshelves/Business/Entrepreneurship/Entrepreneurship_(OpenStax)/04%3A_Creativity_Innovation_and_Invention/4.05%3A_SummaryThis reinforces the idea that creative thinking is a practice, that it can be guided, and that sometimes a combination of open thinking and rule following is ideal for collaborative creativity. Innova...This reinforces the idea that creative thinking is a practice, that it can be guided, and that sometimes a combination of open thinking and rule following is ideal for collaborative creativity. Innovators and inventors conduct the iterative innovation process by engaging with potential consumers on a near-continuous basis in order to develop the product and the consumer base at the same time, thus bridging the diffusion chasm.
- https://biz.libretexts.org/Bookshelves/Business/Entrepreneurship/Entrepreneurship_(OpenStax)/07%3A_Telling_Your_Entrepreneurial_Story_and_Pitching_the_Idea/7.07%3A_SummaryThe disadvantages are that a story can create the fear of missing out in consumers and can set unattainable, rigid goals that can cause you to miss key factors in the venture’s development. There is n...The disadvantages are that a story can create the fear of missing out in consumers and can set unattainable, rigid goals that can cause you to miss key factors in the venture’s development. There is no single model for a pitch competition, but teams can prepare based on the terms that organizers set forth, and they can anticipate the need to demonstrate key core elements including value proposition, marketplace and competition, funding strategy, brand, and team.
