Lecture 3.pptx - REVIEW • Who are entrepreneurs? • What did...

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REVIEWSlides edited by Phu Nguyen1Who are entrepreneurs?What did you learn from the “5$ in 2 Hours” Experiment ?The problems they might have seen before but had never thought to solve.Do not frame the problem too narrowly.
SourceDefinition ExamplesUnexpected occurrencesUnanticipated events lead toeither enterprise success orfailure.Unexpected success: Apple Computer (microcomputers)Unexpected tragedy: 9-11 terrorist attackIncongruitiesWhat is expected is out of linewith what will work. (different btw expectation and reality)Overnight package deliveryProcess needsCurrent technology is insufficient to address an emerging challenge.Sugar-free products ; gas-electric hydrid cars to deal with rising energy cost Caffeine-free coffeeMicrowave ovensChange-based Sources Of Entrepreneurial OpportunitiesSlides edited by Phu Nguyen2
SourceDefinition ExamplesIndustry and market changesChanges in technology, markets,etc., alter industry dynamics.Health care industry: changing to home health careDemographic changesShifts in population size, agestructure, ethnicity, and incomedistribution impact productdemand.Rest homes or retirement centers for older peoplePerceptual changesPerceptuel variations determineProduct demand.Exercise (aerobics) and the growing concern for fitnessChange-based Sources Of Entrepreneurial OpportunitiesSlides edited by Phu Nguyen3
Entrepreneurship and Small Business Management Phu Nguyen_ HCMIUSlides edited by Phu Nguyen4
Lecture “Observations” TechniqueSlides edited by Phu Nguyen5
CHAPTER OBJECTIVESTo observe customers in their natural settings.

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