Chapter2EntrepreneurialOpportunitiesTheirOrigins,Form...

Chapter2EntrepreneurialOpportunitiesTheirOrigins,Form... -...

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tea / ' n in7 o 6 jEuTIv E s CtTM 'eadi ?± ²hf> chap²e³, FOu ´houµd 6e a6µe ²o¶· 1 Define an entrepreneurial opportunity and expLain why such opportunities exist. 2 Describe how technoLogicaL, poLiticaL/regulatory, and sociaL/demographic changes generate entrepreneurial opportunities± 3 ²ist the different forms that entrepreneuRIal oppo³tuni- ties can take and expLain why some forms are better fo³ new firms than others. 4 EXpLain why new firms are more successful in some industries than in others´ and identiFy the major types of industry differences that infLuence the relative success of new firmsµ 5 EXpLain why estabLished firms are usuaLLy better than new firms at exploiting entrepreneurial opporTunities¶ ± ·denti¸ the types of opportunities that new firms are Better at exploiting¹ and explain why new firms have an advantage in expLoiting these kinds of opportunities¶ 37
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38 PART 1 EntrepreNeurship: Who, What, Why? It still holds true that human beings are most uniquely human when they turn obstacles into opportunities. Have you ever wondeRed what To do wiTh an old computeR, prinTer, or copIer? ±f so² weLcome to the clUb. Every year, mIllIons oF peopLe-and tens of ThoUsands oF businesses³ Face ThIs puzzLing quesTion´ µechnology Is movIng so rapIdLy that computers and otheR kinds of oFFIce eqUipmenT oFTen become obsoLete beFore They are worn oUT. ±n otheR cases, heavy use does lead To bReakdowns thaT, given The prIce of new eqUIpmenT² aRe noT worth RepaIrIng. So whaT's to be done wIth equipment ThaT has oUtLived iTs UsefUl¶ ness? µwo enTRepreneUrs, ·andy and VeRa ¸ewIs² FoUnd theMseLves wondeRIng aboUt ThIs probleM over and over again. BuT they dIdn¹T jUsT ThInk about iT: µhey Looked Into the sitUation careFuLly and concluded that there was a real bUsiness opportunITy hereºa way In which They could pRovide a new service and deveLop maRkeTs few, iF any, oTheR companIes weRe servIng» As a resuLt² they Founded So¼Cal CoMpUter ·ecycLers½ ±nc´² locaTed In Harbor CIty, CaLIfoRnia. µheir coMpany receIves oLd eqUipmenT FRom hundreds oF diFFerent soUrces, oFten For free. WhaT They Then do wIth The equIpment depends on ITs condiTIon¾ ¿IRst² They wipe oUT aLL exIsTing data stored in coMpuTeRs and other devIcesÀ µhen² they either ResTore it to workIng condiTIon and sell It to companIes ThaT specialIze In handLing used equIpmenT (resellers)² or they donaTe It to nonpÁoFIt organIzatIons. ALternaTIveLy² they disMantle the equIpment and sell The paÂs. WhaTever rouTe they take, a -±²c HOf³´ ' (Slgµ¶Y ·¸¹¸·µº¸»³d) gRowing nUmber of cUsTomers Is seeking oUT SoÃCaL, and the company Is doIng a rapIdLy rIsIng voLUme oF busIness. Beyond that, the ¸ewises aLso sTate that they acTuaLly have fUn In the pRocess. "We get to see aLL kinds oF stuFf Ä»Ä and we really enjoy It»Å µruly² It doesnÆT get much beTter Than thaT for enTrepreneUrs-or anyone eLse! Çsee ¿IgUre 2.¼ ).
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This note was uploaded on 01/11/2012 for the course MGMT 472 taught by Professor Turner during the Spring '11 term at South Carolina.

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Chapter2EntrepreneurialOpportunitiesTheirOrigins,Form... -...

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