[COMM 320] - Midterm Exam Guide - Comprehensive Notes for the exam (35 pages long!)

• School: Concordia University
• Department: Commerce
• Course: COMM 320
• Professor: Karim Boulos

Document Summary

Academic definition (stevenson & jarillo): entrepreneurship is the process by which individuals pursue opportunities without regard to resource s they currently control. Venture capitalist (fred wilson): entrepreneurship is the art of turning an idea into a business. 3) tenacity despite failure: because entrepreneurs are typically trying something new, the possibility of failure exists, a successful entrepreneur is not afraid of failing. The most important trends are: economic forces; social forces; technological advances; political and regulatory change. Week 2 chapter 3 feasibility analysis: what is a feasibility analysis: Feasibility analysis is the process of determining whether a business idea is viable. Screen ideas before you spend too many resources on them. Considering four main areas: areas of feasibility analysis/how to identify if an idea is feasible how to apply, product/service feasibility: Purpose: assessment of the overall appeal of the product of service being proposed. Target market attractiveness target market: the limited portion of the industry the firm plans to go after.