Entrepreneurship - McGraw-Hill Introduction to Business

[VIDEO] Blue Ocean Strategy Explained

July 21, 2017

When starting a new business, many entrepreneurs opt to enter an established industry so they can know what to expect. At the same time, however, these markets are packed with fierce competitors who must vie with one another for their piece of the pie. The most fortunate entrepreneurs avoid cutthroat industries and create new markets based on previously unknown consumer demands. The video below looks at how this “blue ocean strategy” can ensure long-term dominance for innovative companies.

Questions:

Can Continue reading →

Cirque du Soleil, Entertainment, Marketing, Blue Ocean Strategy, Entrepreneurship

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Bonus Chapter B: Technology and New Media, Videos

Learning about Business by Selling Slime

July 18, 2017

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Along with being a summertime staple, the neighborhood lemonade stand also represents the classic image of young entrepreneurship. In today’s interconnected world, though, ambitious kids have even more options at their disposal if they want to run a business. And while selling lemonade is certainly a refreshing way to earn a dollar, some have turned their attention to a far less appetizing but still lucrative option: slime.

This sticky substance has been fascinating young social media users for years. Unlike Continue reading →

Product Development, Education, YouTube, Fads, Entrepreneurship, Social Media

Chapter 1: Taking Risks and Making Profits, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Bonus Chapter B: Technology and New Media

Chinese Umbrella-Sharing Startup Faces a Major Setback

July 11, 2017

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Over the last few years, the Chinese sharing economy has grown to include everything from bicycles to basketballs. Consumers can temporarily purchase these items at kiosks scattered around urban areas with the idea being that they’ll return the product once they’re done. But as one umbrella-sharing startup recently learned, that’s not always the case.

Sharing E Umbrella launched earlier this year after their founder realized that “everything on the street can now be shared.” The company started up in 11 Continue reading →

Innovation, China, Entrepreneurship, Product Distribution, Sharing Economy

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter B: Technology and New Media

Big Dairy Companies Drive Down the Price of Organic Milk

July 6, 2017

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When people think of the organic food movement, their thoughts will often wander to images of upscale urban grocery stores and the fancy clientele that patronize them. But the early days of organic food production certainly wasn’t led by city slickers. In fact, more than 20 years ago a group of Amish farmers developed one of the nation’s first major organic agricultural operations. Centered around the small town of Kalona, Iowa, this collection of primarily dairy farmers has thrived on Continue reading →

Operations Management, Product Development, Ethics, Sustainability, Entrepreneurship, Organic, Food

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 5: Forms of Business Ownership, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price

Restaurants Start Setting up Shop at Gas Stations

March 27, 2017

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Whether you’re on a long road trip or just heading home from work, chances are that you won’t want to pick up dinner from a gas station. After all, the nation’s fueling stops are better known for roller-grilled hot dogs and unhealthy snacks rather than fine dining. But with many American eaters on the hunt for fresh and convenient options, gas stations around the country have started meeting this demand by bringing restaurants on site.

For instance, in Leesburg, Virginia, Continue reading →

Product Distribution, Entrepreneurship, Petroleum, Food, Gas Stations, Transportation, Location

Chapter 1: Taking Risks and Making Profits, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Chapter 15: Distribution

Record Number of Small Business Owners Sold Their Companies in 2016

January 17, 2017

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Running a small business takes a huge amount of work, so it’s not surprising that some entrepreneurs are more than happy to sell their companies if the right offer comes around. And according to data-tracking site BizBuySell, nearly 8,000 businesses did exactly that in 2016. This represents the largest number of small firms sold in a single year since data started getting collected in 2007.

But that doesn’t mean these companies were in financial trouble and needed outside buyers to Continue reading →

Baby Boomers, Management, Entrepreneurship, Small Business, Growth, Buyouts

Chapter 1: Taking Risks and Making Profits, Chapter 6: Entrepreneurship, Chapter 7: Management & Leadership, Chapter 20: Money and Financial Institutions

Entrepreneurs Risk Slow Growth by Keeping Close Control

December 1, 2016

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In order to start a successful company, entrepreneurs must be willing to take charge and lead with authority. After all, founding a business requires hard work and a clear vision, and entrepreneurs need plenty of both if they want to succeed. But what happens once a startup grows into a mature company? By that stage, the founder is far from the only focal point: managers, outside investors and other stakeholders will also want to have their say about the company’s Continue reading →

Bill Gates, Management, Entrepreneurship, Startups, Leadership, Mark Zuckerberg

Chapter 1: Taking Risks and Making Profits, Chapter 6: Entrepreneurship, Chapter 7: Management & Leadership, Chapter 10: Motivation

[VIDEO] Inside the Factory Where Robotic Dinosaurs Come to Life

November 10, 2016

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When a group of Australian special effects artists were having trouble finding work, they decided to pool their resources together and create their own animatronics company. Most had planned to return to working on movies and television once they’d made a splash with their enormous, lifelike representations of dinosaurs and monsters. But Creature Technology wowed the world with their creations, leading to the bustling and almost magical workshop shown in the video below.

Questions:

Why must Creature Technology keep Continue reading →

Entrepreneurship, Special Effects, Australia, Product Development, Entertainment, Operations Management, Global, Creature Technology

Chapter 1: Taking Risks and Making Profits, Chapter 6: Entrepreneurship, Chapter 9: Production and Operations Management, Chapter 13: Marketing, Chapter 14: Product and Price, Bonus Chapter B: Technology and New Media, Videos

The Startup That Wants to Streamline Divorce

June 21, 2016

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Few legal procedures are more emotionally charged than divorce. Former couples often bring the worst out in one another as they contentiously divide their assets in the presence of lawyers. According to the startup Wevorce, however, ending a marriage shouldn’t place such a large strain on anyone’s finances or feelings. Instead, the company hopes to transform divorce from a drawn-out legal nightmare into a civil, streamlined division of property and possessions.

For those who have experienced the devastating effects of Continue reading →

Startups, Legal, Divorce, Ethics, Wevorce, Entrepreneurship

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 6: Entrepreneurship, Chapter 14: Product and Price, Bonus Chapter A: Business Law, Bonus Chapter B: Technology and New Media

[VIDEO] The Explainer: Disruptive Innovation

May 6, 2016

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This week we looked at the startups that have tried to follow in the disruptive footsteps of the on-demand car service Uber. The following video explores how small companies can disrupt large firms and the ways that the big boys respond.

Questions:

Why can it be dangerous for companies to focus on small but lucrative customer bases?

Will startups like the parking service Luxe or even the gasoline delivery company Filld become disruptors like Uber?

Entrepreneurship, Product Development, Cars, Uber, Disruption

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