the ways & targets of the business, in case they are interested in getting associated with it. It sets out the complete pathways to be used to accomplish the core tasks of business. Part B) Mrs. Lee Rhodes has proved herself to be a classical example of successful entrepreneur while driving Glassbaby towards great success. Setting the success story from Seattle to New-York is something which would be having far reaching results to her business. Spread of her personal stories & charities has left a long lasting impact on the surrounding society, which is proving fruitful to her, developing more trust of community towards her. In today’s extremely competitive situation, location matters a lot & moving towards metropolitan city of New-York can prove to be a tip of ice-berg for her. The two most important things which she might do in her business include, to provide personalized services like providing candles based on the customized needs of the people, providing a superior edge to Glassbaby. This would create a special cliental for the company, grabbing more shares from the market. It would on the other hand raise the costs to the company, but it can be covered by achieving economies of scales. The other fundamental tsk that can be performed is the use of e-marketing & e-business. It’s the era where world has become a global village & companies are working more on online selling rather than working on geographical locations. This e-selling, provides the opportunity of reaching the remote markets where getting physical access can prove more than difficult. Using social media as a medium of marketing can help to a great extent to Ms. Rhodes as well. Combining these two options would provide a new dimension to the business of Glassbaby, opening new doors towards the greater success.
BUS508 Week 3 Journal Entry 1. Determine the primary manner in which ORION has increased your business knowledge in the related subject area. This week ORION is designed to gets detailed understanding of various businesses operating in the country & their importance, however, following aspects of the course increased my business knowledge tremendously:Categories of business structure that can be incorporated to form business relationship, i.e. sole proprietorship, partnership (General, Limited & Limited liability
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- Spring '12
- Entrepreneurship, business owner, Mrs. Lee Rhodes, Importance of a Business plan