Free Essay


In: Business and Management

Submitted By esbrown22
Words 1918
Pages 8
Chapter Seven
Small Businesses and Entrepreneurship: Economic Rocket Fuel

Review Questions

1. Review the benefits an entrepreneur might seek in starting a new business. Which benefits are most appealing to you? Why?

2. Do you recognize any of the entrepreneurial personality characteristics in yourselves? Which ones? Do you think it’s possible for a person to develop the characteristics that he or she lacks? Why or why not?

3. What role does failure sometimes play in entrepreneurial success? What can an entrepreneur gain from failure?

4. How could you convince family and friends to support your new business launch? What kind of assurances would they need? What could you do to keep the funding relationships professional?

5. Beyond personal resources, what are other funding options for small businesses? Why don’t more entrepreneurs tap into these resources?

6. Compare the opportunities and threats that small businesses face. Which opportunities are most compelling? Which threats are most intimidating? Why?

7. Review the definition of niche marketer, and cite three examples of niche marketers. How has technology affected niche marketing?

8. If you were to launch a new business, would you start from scratch, buy an established independent business, or buy a franchise? Why?

9. What are the key contributions of small business to the U.S. economy? Rank the benefits in terms of importance, and provide the reasons for your ranking.

10. What factors account for the dramatic differences in entrepreneurship rates around the world? Do you think entrepreneurship will continue to grow worldwide? Why or why not?

Application Questions

1. A huge number of successful businesses—such as Apple, The Cheesecake Factory, and eBay—were built around the personal passions of their founders. Consider your own personal passions. What do you love to do? What are you great at doing? Can you shape any of your interests into a business opportunity? Why or why not? Be sure to think big. For instance, if you love hanging out with friends and listening to music, a club promotion business might make sense for you. What steps would you need to take over the next few years to make your “dream business” real?

2. Identify a person in your neighborhood who started a business from scratch, a person who bought an existing business, and a person who bought a franchise (your local chamber of commerce can probably help you identify candidates). Interview each of the entrepreneurs to learn more about their experiences. What were the pros and cons of each approach? Would they use the same approach if they could do it over again? Why or why not? What are their long term goals? How did the actual experiences of the entrepreneurs you interviewed compare to the material in the book? Did you hear anything surprising?

3. The Global Entrepreneurship Monitor (GEM) suggests that only a small percentage of entrepreneurs launch “high expectation” businesses—firms that they anticipate will hire 20 or more employees in the next five years. In fact, a 2005 study suggests that just 9.8% of the world's entrepreneurs expect to create almost 75% of the jobs generated by new business ventures. Read the summary report on the Internet at the GEM website ( Given that “high expectation” entrepreneurs can have a far-reaching impact on job creation and innovation, how can governments around the world encourage more “high expectation” entrepreneurship? Consider the impact of taxes, regulations, and government assistance.

4. In many developing countries, the majority of citizens make their living through microenterprises—informal, tiny businesses that barely yield enough to survive. Without financial services, most of these entrepreneurs find growth simply impossible. The Foundation for International Community Assistance (FINCA), a nonprofit established in 1984, stepped into the gap by providing micro-loans ($50–$500) to the poorest of the poor entrepreneurs, through village banks that are administered by the people they serve. The FINCA program has been amazingly successful at breaking the vicious cycle of poverty for its clients. Check out their story on the Web at Why has the FINCA approach worked so well? Do you think it would work in poor communities in the United States? Why or why not?

5. The Small Business Administration (SBA) maintains a rich, vibrant website, and supports a number of high impact programs to support small business growth. In fact, every state has at least one local SBA office. Log onto the SBA website at, and spend a few moments browsing. Be sure to check out the sections on business opportunities and training. Then find the page for the SBA office nearest your school. How would this information be helpful for local small businesses? If you started a business, would you personally be likely to use any of the SBA resources? If so, which ones? Why do you think the government spends so much money supporting small business growth by providing this array of resources?

Team Project

Making Lemonade from Lemons

Take a moment to write down 3 to 5 things that you find frustrating about daily life on a fairly regular basis (e.g., “It takes forever to find a parking spot on campus,” “I hate waiting online at the post office,” “My roommate borrows my favorite jeans way too often.”). Be honest . . . and use real problems.

Then break into groups of 3 to 5 students, and exchange papers. Take about 3 minutes to choose one problem on the list that you received, and to develop a product or service idea that could solve that problem. Then, together with your team, review each person’s idea and choose the one with the most potential. Working together, take twenty minutes to further develop the idea into a business concept. Create a logo and a slogan for your business, and present your idea to the class, along with the problem that your business will solve. After you’ve heard the ideas from each team, vote with your classmates for the best new business idea.

Case Connections

Selling Out without Selling Out

If you’re reading this case, chances are good that you’re a member of MySpace. Chaotic, sexy, and sometimes even profane, MySpace has become a pop culture phenomenon, with more than 100 million registered users, plus 230,000 new sign-ups each day.

The core concept behind MySpace is self-expression. From day one, co-founders Chris DeWolfe and Tom Anderson hated the idea of restricting user content in any way, and they remain adamant that “MySpace is all about letting people be what they want to be.” Hard-core MySpace users, mostly in their teens and twenties, post elaborate profiles that attract hundreds—sometime thousands—of “friends.” More than 2 million bands use MySpace to showcase their stuff, in addition to countless aspiring comedians, filmmakers, and writers. The user-generated site isn’t always pretty, but the “anything goes” vibe is part of the appeal for its members. Despite intense competition from Facebook, MySpace – according to Alexa, a leading Internet tracking service – is the world's eleventh most popular website.

Officially launched in 2004, MySpace vaulted to success almost immediately. Tom Anderson confided to Forbes magazine that the site struggled for only a month before the idea caught fire: “One day, in particular, we saw this huge spike because of people telling each other. It just went crazy from there. We didn’t have this big, long struggle behind it. We put it up, and it got popular very quickly.” MySpace garnered popularity without spending even a single dollar to attract new users. Nor did MySpace spend much on building content, since the whole point of the site is that users do it for them. The success of MySpace—from both a user standpoint and a business standpoint—has attracted eager attention from a number of big players in the media business. In mid-2005, Rupert Murdoch’s News Corp—owner of the Fox Broadcasting Company, DirecTV and a number of other heavy hitting media properties—purchased MySpace for $580 million. But the wisdom of this decision still isn’t clear.


• The infusion of capital from News Corp has spurred development of an amazing array of new features for MySpace, including the MySpace Records label and a VoIP service that allows members to call each other over the Web.

• As part of News Corp, MySpace has launched a range of international sites, and invested in upgrades to increase page load speeds and improve the quality of the code behind the site.

• The union with News Corp may eventually provide breakthrough content options from other News Corp companies—such as 20th Century Fox—to MySpace users.


• The freewheeling, “anti-authority” MySpace culture may take on a conservative corporate dimension that reflects the News Corp culture. MySpace headquarters have already been consolidated with other News Corp Internet properties, moving from mellow Santa Monica to buttoned-up Beverly Hills.

• The need to be “safe,” not just for users but for advertisers may impinge on the free expression that members find so appealing.

• MySpace may find itself even more vulnerable to up-and-coming competitors – such as Twitter – who can move more quickly and with fewer restrictions.

You Decide

• Do you think Anderson and DeWolfe made the right choice to sell MySpace? Why or why not? What would you have done in their place? Explain your response.

• As of mid-2009, Anderson and DeWolfe are both “strategic advisors” to MySpace – no longer active corporate officers. Do you think they will remain in the corporate world, or are they more likely to leave to launch another business independently? Why?

• Will being part of News Corp be an advantage or a disadvantage for MySpace over the long term? Explain your answer.

• As a user-driven site, MySpace will clearly evolve over time. How do you think the site will change? Which features do you believe will gain and lose in popularity? Why?

• Going forward, how can MySpace maintain its offbeat, independent vibe as part of the mainstream culture?

Communication Connection

• Imagine for a moment that you are the founder of your own gourmet sandwich shop in Beverly Hills. You offer a wide variety of delicious sandwiches, using top quality meats and cheeses, and fresh organic vegetables. You are thrilled that MySpace headquarters has moved nearby, because you know that computer programmers typically work long hours, and you are convinced that writing code makes people particularly hungry. But unfortunately, your shop is not within easy walking distance and parking in Beverly Hills can be tough. You have decided to request permission from MySpace to bring a small mobile sandwich cart into their building a few times a day so that you can walk the halls, offering fresh food. You know that several other local cafes will request similar access, and you suspect that MySpace will only give permission to one business. Write a letter to MySpace requesting access. Be sure to communicate the benefits that you will offer and to anticipate and respond to their potential objections.

Sources: Alexa Global Top Sites, Alexa website, , accessed July 28, 2009; “MySpace Cowboys,” by Patricia Sellers, Fortune, September 4, 2006, p.66-74; Q&A: MySpace Founders Chris DeWolfe and Tom Anderson by Natalie Pace, Forbes website, January 4, 2006,; “MySpace, Global Society, Staying Connected,” by Maryanne Murray Buechner, Time magazine website, August 30, 2006,,8599,1222589,00.html…...

Similar Documents

Premium Essay

Business to Business

...Social Networks and Media Conquer B2B Social Networks are a flourishing phenomenon in today’s generation. It has already entered and affected the B2C network. In B2C network the social networks have become a concerning factor and plays a major role in marketing and communications. As we are all familiar with the B2B network and what does it actually implies, the question arises whether the social networks can play an important role in B2B network and for B2B companies. Social networks are not another passing phenomenon; they have matured and have registered themselves highly in the minds of the customers. B2B network also gets conquered by the social networks the business houses that trade with each other are actually the customers of each other and they also engage themselves in social networking. Some useful statistics from the social networking world states that the total time spent on social media has increased from 6% in 2007 to 20% in 2011. The registered users will almost reach 2 billion people by 2014. These figures show relentless growth and usage of social media. Already 91% of the B2B companies are active on Facebook, 53% on Twitter and 47% on LinkedIn. These statistics reveal that social media has conquered B2B network and has entered in that chain as means of effective communication and presentation. B2B companies deal with people and not robots. So the influence of emotions before purchasing a product is applicable to them also as they are not immune to......

Words: 798 - Pages: 4

Premium Essay


...Long Range Planning 43 (2010) 172e194 Business Models, Business Strategy and Innovation David J. Teece Whenever a business enterprise is established, it either explicitly or implicitly employs a particular business model that describes the design or architecture of the value creation, delivery, and capture mechanisms it employs. The essence of a business model is in defining the manner by which the enterprise delivers value to customers, entices customers to pay for value, and converts those payments to profit. It thus reflects management’s hypothesis about what customers want, how they want it, and how the enterprise can organize to best meet those needs, get paid for doing so, and make a profit. The purpose of this article is to understand the significance of business models and explore their connections with business strategy, innovation management, and economic theory. Ó 2009 Published by Elsevier Ltd. Introduction Developments in the global economy have changed the traditional balance between customer and supplier. New communications and computing technology, and the establishment of reasonably open global trading regimes, mean that customers have more choices, variegated customer needs can find expression, and supply alternatives are more transparent. Businesses therefore need to be more customer-centric, especially since technology has evolved to allow the lower cost provision of information and customer solutions. These...

Words: 13944 - Pages: 56

Premium Essay


...BTEC Business Level 3, Unit 37: Understanding Business Ethics Businesses are limited in what they do. Sometimes by laws and sometimes by the conventions and social codes we live by. Gathered together these are what we refer to as ethics and they can apply to every aspect of business behaviour. Whereas it could be argued that most laws have there origins in ethics, ethical behaviour, by individuals and business go beyond legal requirement and are discretionary, that is to say we can choose to follow them or not. Businesses have not always behaved ethically and many still do not. This unit examines what pressures there are on businesses to behave in an ethical manner. Learning outcomes On completion of this unit you should: 1 Understand the meaning and importance of ethics in the business world 2 Understand the implications of businesses operating ethically 3 Know the social implications of business ethics 4 Understand ethical concerns facing different communities. Context: You have been asked to research and draw up a report explaining business ethics for an organisation that is about to be floated on the stock exchange. The report will demonstrate an understanding of ethical business behaviour; the implications of it and why it is increasingly seen as such a serious issue for more and more businesses. P1 explain the ethical issues a business needs to consider in its operational activities. • Begin by explaining your own understanding of the......

Words: 855 - Pages: 4

Free Essay


...Nainani ID No.: 640633 Course: BUS 1010 – Introduction to Business Organizations Schedule: Mondays & Wednesdays 11:00 – 12:40 Professor: P. Gachago Semester: Fall 2013 Individual Term Paper Now that you have attended several business lectures at USIU, you decide to start a kiosk business in your estate, selling potatoes. 1) Under what legal form of business would you register your business? 2) Why would you choose that form of business? 3) What, in your view, would make up the supply chain of your business? Table Of Contents * Executive Summary Pg. 3 * Question 1 Pg. 4 * Question 2 Pgs. 5-6 * Question 3 Pgs. 7-8 * Conclusion Pg. 9 Executive Summary The kiosk business would be registered as a sole proprietorship. Since it is a small scale business, not much money is required to start up the business. The owner has full authority over the business and can run it any way they please. Not many legal documents required, only a trading license. The business is very flexible, structure can be changed relatively easily.......

Words: 1362 - Pages: 6

Premium Essay


...appropriate method for the business you have chosen to increase its profits? Introduction My investigation is about visiting a local store in Aston, Floors-2-Go and having verbal feedback from the manager her/himself also analysing and suggesting what methods can be used to make the business even more profitable in the local are (Aston). 1.1. In this section I will be talking about where the Business is located and what type of market research I will do to succeed.Floors-2-Go is located at 74 New Town Row Birmingham. The area is a middle class area, the people of the area are black or either Asian. I will collect information on my chosen business by using primary and secondary research. For instance I will gather my primary research through interview questions which I will go to the store and discuss with the owner. I will also use questionnaires to gather information from customers. Furthermore I will also use a range of secondary sources of information during my study, such as the company website, business studies text books and websites, local maps, competitor’s websites, local newspapers, magazines and leaflets. 2.1 In this paragraph I will be talking about the ownership of my business Floors-2-Go is a sole trader company. There are many advantages of a sole trader. Sole traders maintain full control of their business, running it how they please without the interference of others. Profit retention sole traders retain all the profits of their business.......

Words: 3187 - Pages: 13

Premium Essay


...- BTEC FIRST DIPLOMA BUSINESS - Unit 16: Business Enterprise Assignment [pic] [pic] • The due date for the whole assignment is Friday 25th May 2012 • You will have time allocated to complete the MERIT and DISTINCTION criteria only when the PASS criteria is completed • You will be able to gather evidence for Level 2 Key Skills in Communication, Application of Number and Information Technology from completing the assignment You will also be able to gather evidence for Key Skills Level 2 Improving Own Learning and Performance (LP2.1, Lp2.2 and LP2.3) as you plan, review and complete the assignment ASSIGNMENT TASKS The scenario You and some friends have always been interested in working for yourself rather than being an employee. You now feel it is the right time to start up a new business and so you begin to consider the idea and investigate the possibilities further with your friends. There are many ideas you have but before you can start the business you have decided to investigate what things you need to know about starting up a business. You and your friends are considering asking your bank manager to provide you with the finance for starting up the business and so it is important that you know exactly what is involved. You and your friends will have to present your business idea to the bank manager so it is important that you know what you have to......

Words: 905 - Pages: 4

Premium Essay

Business to Business

...Business to Business Message Business to Business Message Businesses are very crucial to the economy. Good business messages are essential to keep the business relation in good health too. There are many types of business messages which a business can write to another daily with regards to business. It These can include messages on sales and purchases, products and services, confirmation or cancellation of orders, invoices, company announcements and notifications, employee related news such as promotions, awards, increments, bonus, appraisals, resignation and termination for example. A business message can be written by any authorized figure from a company to another authorized figure of another company. Business messages are usually formal and should be well written to earn the respect of the recipient. They not only can be directed to other business associates, they can also be directed toward the public. Business messages to the public could be an announcement, promotion, surveys, notification of change of address or contact information about the business or some other information which a client should know to ensure continued patronage of the company’s products and services. Business messages are written as a reminder or to serve as a record the business dealings that transpire between companies. That way any agreements can be proven and a company can remind the other company what arrangement was agreed upon in prior messages. Well written business messages will put......

Words: 1539 - Pages: 7

Premium Essay


...INITIAL BUSINESS IDEA Introduction For this task I have been asked to justify why my proposed business idea will be successful. In doing so I am going to present supporting evidence. Sole trader A sole trader is a person that owns the business with or without employees. This is the smallest and most popular type of business in the United Kingdom. In this situation the owner runs the business independently and also the business and the owner have the same legal identity which means if the business owns money the holder owns money. Explain two reason advantage One benefit of being a sole trader is that I retain all the profit that business makes. This is good because the profit that has been made through selling products or service will come back to the owner. This means all the money that will made from the business retain to the owner as he will not need to pay anyone e.g. staff or supervisor, or accounting etc. For example, if the business receives £3500 in a month from selling t-shirts the full £3500 will retain to the owner. This is a huge advantage because firstly, the owner will have more money to spend in marketing or other promoting recourses and secondly, if more money comes in the more it encourages the owner to work harder. This will make me successful because if I retain all of the money I can expand my business in the future and similarly I will have more available to make my business better, e.g. promote my business effectively. For example, if I......

Words: 2882 - Pages: 12

Premium Essay

Business to Business

...How Is Building a Brand in a Business- to - Business Context Different from Doing so in the Consumer Market? Creating and developing a strong product brand is a very critical step towards placing or setting a company apart from its competitors. This step depends on many variables within the business environment within which the company exist and belong. For example a company has to understand its operation, its market and most importantly who its clients and competitors are. A brand is simply a name, design or mark that informs/tells consumers the identity of a products and also enables consumers to reduce most risk involved in the buying decision. To develop a business-to-business brand, a company must be willing and able to allocate and channel some of its resources and energy on educating its clients. This involves, introduction to the product/s in question and the company’s reputation such as its capabilities and the standard and quality of its product/s. Awareness and education and campaigns are the greatest tools in a business-to-business to help sell the reputation of a business and its brand name and product/s, which cisco successfully achieved. In a business-to-business the targeted group is usually a corporation, organization or company. During its business-to-business, cisco focused its attention on makers of IT decision within corporation and corporate executives to market and sell its products. Also products in this category market and sells its “self”......

Words: 283 - Pages: 2

Premium Essay


...Title Length Color Rating Different Viewpoints of Business Ethics - Introduction The purpose of this short paper is to compare and contrast three different peer-reviewed journal articles and one online periodical. First, the paper provides a brief introduction of the four articles. Second, the paper compares and contrasts the four articles. Finally, the author presents his views on the topic of social responsibility and business ethics before concluding the paper. Four Articles All four articles center their focus on business ethics. Of the four articles, three are scholarly peer-reviewed journal articles and one, by Friedman, is an online periodical.... [tags: Business, Ethics] :: 4 Works Cited 2005 words (5.7 pages) Strong Essays [preview] Alahmad and Murphy on Business Ethics - The first two journal articles that were compared and contrasted were Ala Alahmad’s 2010 article on To Be Ethical or Not to Be: An International Code of Ethics for Leadership and Patrick Murphy’s 2009 article on The Relevance of Responsibility to Ethical Business Decisions. Some key findings of Alahmad’s writings were that ethics and leadership were closely tied together; they were found to be derivatives of one another. He mentioned that ethics is an individual thought process of making good or poor decisions.... [tags: Business Ethics] :: 4 Works Cited 970 words (2.8 pages) Strong Essays [preview] Ethical Perspectives on Business Ethics - The determination of this paper is to......

Words: 3552 - Pages: 15

Premium Essay


...Business Administration degree programs compared to other programs Name: Instructor: Institution: Course: Date: Introduction While most degree programs have been established in institutions of higher learning today, a business administration degree program is as sufficiently rigorous as any other degree program. The decision of coming up with the best degree course entirely depends on the students long term goals. For students making the decision about which program to pursue, taking an academically rigorous course is very imperative. However, this is a decision that the student has to come up through reviewing articles on how effectively this program meets their goals. For students who hope to make it in the world of executive and managerial positions, business administration is the program to pursue. Business administration is one of the most sought after degree programs of our times due to the increased corporate world and expansive growth of business and entrepreneurship in the world (Fickenscher, 2010). This study attempts to explain business administration programs as an academically rigorous degree to pursue, as compared to other programs. Ground With numerous programs coming up every day, remaining focused on the academic goals one hopes to achieve is critical. Business administration degree programs are not only academically beneficial but offer great and successful ever expanding careers. With...

Words: 1202 - Pages: 5

Free Essay

Business to Business

...Malaysia PROTON Holdings Berhad and Indonesia PT. Adiperkasa Citra Lestari (PT ACL) has signed Memorandum of Understanding to establish collaboration ties between both parties in relation to develop and manufacture of Indonesia National Car. (Tan, 2015) However there are business forces that affect collaboration of companies. One of the key forces is Social and Cultural in Environmental Forces, is defines as influencing mechanisms which exist within a population that guide business practices or purchasing behaviour. (, 2015) The reason Malaysia decided to collaborate with Indonesia is due to similar culture, such as religion, environments and language. Majority of Malaysian and Indonesian are Muslim which share similar language, hence the first obstacle has overcome as language plays an important role in business communication which also able to eliminates common mistakes and misunderstandings. Therefore, the development they are working on is more likely to carry out successful as strengthen of mutual ties in collaborating due to understanding of various cultures in both countries. The next forces is Environmental; Technological Forces. Define as changes in technology in technology which can have a significant impact on a company's processes, pricing of competition or even the obsolescence of a company's product. (, 2015) Besides that, it shapes the collaborative behaviours that drive results by only making collaboration......

Words: 557 - Pages: 3

Premium Essay

Business Is Business

...The purpose of business is to provide people with a product or service and we all understand that businesses have those to whom it is responsible, whether it is the stock/shareholder or the consumer. Providing a service or making something is very black or white in the area of product or service responsibilities, where it becomes grey is in the area of social responsibility. Who would have ever dreamed that the same Ford Motor Company that destroyed thousands upon thousands of acres of rain forest in the in the jungles of South America in the early Nineteenth Century in search of an abundance of rubber would today be a champion of eco-fuels and rain forest preservation? Businesses are perceptive and have the fundamental understanding that in order to survive in today’s hypersensitive, politically correct society, they must be perceived as guardians of “what’s in” rather than concentrating on their bottom line because in many instances, that perception ends up affecting their bottom line. God created the universe and all that’s in it for us to enjoy and utilize. In Genesis, we learn that after the fall and the realization of our nakedness that Adam and Eve utilized animal skins in order to cover their bodies due to shame. They actually had to do some “dirty work” in order to make the skins into clothing. This alone tells us that having dominion over the animals and the things of the earth means we are to utilize them as needed but at the same time to be good stewards. ......

Words: 816 - Pages: 4

Free Essay

Business to Business

... . . . . The Neilsen Rating System The Neilsen Ratings System began as a radio rating system by Arthur Neilsen. The Neilsen Rating System evolved to eventually analyze television data. In 1950, Nielsen moved to television, developing a ratings system using the methods he and his company had developed for radio (Levin, 2006). That method has since become the primary source of audience measurement information in the television industry around the globe. Measuring Ratings The Neilsen Rating system is characterized as a syndicated data provider. A syndicated data provider tracks the change of one or more measures over time, usually in a given industry (Cooper, 2006). Neilsen Rating system makes a very lucrative business for the data that is presented to the entertainment industry, most importantly television. The primary system of measuring data for the Neilsen Rating system is by gathering data and the industry pays up to millions of dollars for periodic reports of data. Devices are used to gather the information. These devices gather the viewing habits of the home and transmit the information nightly to Nielsen through a "Home Unit" connected to a phone line. . . The technology-based home unit system is meant to allow market researchers to study television viewing habits on a minute to minute basis, seeing the exact moment viewers change channels or turn off their TV (Segal, 2007). Another term for this process is Neilsen using set meters. Set......

Words: 1516 - Pages: 7

Premium Essay


...BTEC Business Unit 1: Business Purposes Learner Name: | Centre Number: 23168 | BTEC Business | | Learner No: | | UNIT NUMBER AND TITLE: | Unit 1: Business Purposes | ISSUE DATE: | | HAND IN DATE: | | RESUBMISSION DATE: | | ASSESSOR: | | Aims The aim of this unit is to enable you to understand the nature of business organisations and the business environment in which they operate. You will do this by looking at the range of organisations that exist locally, regionally and nationally and by considering the business framework in which they operate Work covered You will: * Understand the purpose and ownership of business * Understand the business context in which organisations operate Understand the purpose and ownership of business Purpose: supply of goods and services e.g. at a profit, free, at cost, for sale below cost Ownership: sole trader; partnership; limited companies (private [ltd], public [plc]); charity; voluntary organisations; co-operatives; government Size: small; medium; large Scale: local; regional; national; European and global organisations Classification: primary (e.g. farming, forestry, fishing, extraction/mining); secondary (e.g. manufacturing, engineering, construction); tertiary (e.g. private service industries, local and national public services, voluntary/not-for-profit services) Understand the business context in which organisations operate Role of government: European;......

Words: 786 - Pages: 4