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UNIT 5: Entrepreneurship and New Venture Management (tinh thần khởi…

- - - - not large enough to affect the market
        because it is small
- - - - Services
      - Retailing(bán lẻ)
      - Construction(xây dựng)
      - Financial and insurance(bảo hiểm)
      - Wholesaling(bán buôn)
      - Transportation(gthong vtai)
      - Manufacturing(sản xuất)
      - Each industry group differs in its requirements for employees, money, materials, and machines
        
        requires big resources
        => hard to start business
      - Economies of Scale
        
        quantity goods↑ => manufacturing costs ↓
    - - The ability to identify new niches in established markets
        -nhận diện niềm đam mê mới trong các thị trường đã thành lập(chưa đc biết đến hoạc bỏ qua)
        
        Established market
        
        A market have large firms compete well-defined criteria(tiêu chí đc xác định rõ)
        
        Niche
        
        not currently being exploited
      - The ability to identify new markets
        -nhận diện thị trường mới
        
        can transfer(chuyển) a product or service that is well in one market to a second market.
        
        Entrepreneurs can create entire(toàn bộ)industries
      - The ability to move quickly to take advantage of new opportunities
        -di chuyển nhanh chóng để tận dụng cơ hội mới
        
        First-mover advantage
    - - summarizes the business strategy and structure
      - -describe the match between the entrepreneur’s abilities and the request for producing
        -marketing a product or service
      - -strategies for production and marketing
        -legal aspects(khía cạnh pháp lý)
        -organization
        -accounting(kế toán)
        -finance.
      - three questions
        
        What are goals
        
        What strategies
        
        How to do strategies
      - financial plan
        -writing a plan
        -trans all to Dollars
        
        -cash budget(to open and maintain company)
        -income statement(báo cáo)
        -Balance sheets(cân đối kế toán)
        -break-even chart(biểu dồ hòa vốn)