ADM 1300 Chapter Notes - Chapter 5: Eharmony, Social Entrepreneurship, Sole Proprietorship

• School: University of Ottawa
• Department: Administration
• Course: ADM 1300
• Professor: David Delcorde

Document Summary

Entrepreneurship: high energy level, risk taker, type of person that wants to create and develop their own business. Social entrepreneurship: an ethical approach to entrepreneurship that likes to solve important issues. Franchise: a form of business where the owner has the right to operate the company in another location. Adverting model: advertising a company by providing free info that tends to create revenue (yahoo) Brokerage model: buyers and sellers come together to create online business transactions (e- bay) Community model: a meeting point sold by an online company example (eharmony) Merchant model: selling products directly to customers (amazon) Subscription model: selling access to higher valued products through a website (globe and mail) Succession plan: leadership transition between new and old bosses. First-mover advantage: first person to exploit a niche or enter into a market. Sole proprietorship: an individual runs a business and pursues profit. Partnership: two people run a business and each person is 100% liable.