> #basic-concepts , #entrepreneurship , #small-business-management > What are the basic concepts that are relating to entrepreneurship and small business management?
Anonymous
Mar 20

What are the basic concepts that are relating to entrepreneurship and small business management?

Principle of business entrepreneurship
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Mar 20
1. Entrepreneurship: The process of starting, organizing, managing, and assuming the responsibility for a business venture.

2. Small Business Management: The process of planning, organizing, directing, and controlling the activities of a small business to achieve its objectives.

3. Business Plan: A written document that outlines the goals, objectives, strategies, and financial projections of a business.

4. Marketing: The process of identifying, anticipating, and satisfying customer needs and wants through the creation and exchange of value.

5. Finance: The management of money and other assets to achieve the financial goals of a business.

6. Human Resources: The management of the people who work for a business, including recruitment, training, and performance evaluation.

7. Operations Management: The management of the processes and systems that produce and deliver a company's products and services.

8. Innovation: The process of developing new ideas, products, or services that create value for customers and differentiate a business from its competitors.

9. Risk Management: The process of identifying, assessing, and mitigating risks that could impact the success of a business.

10. Networking: Building relationships with other entrepreneurs, customers, suppliers, and industry professionals to support and grow a business.
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