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BDV4C Review

Exam review for Mr. Zebarth's BDV4C: Entrepreneurship class

Kris Zebarth

on 15 June 2010

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Transcript of BDV4C Review

BDV4C Review Intellectual Property Maslow's Hierarchy of Needs Entrepreneur Characteristics Product Life Cycle Self-Actualization Aesthetic Needs Cognitive Needs Esteem Needs Belongingness Needs Safety Needs Physiological Needs Food
Etc. Day 1
True/False - 10 points
Short Answer - 20 points
Case Study - 20 points
TOTAL - 50 points Day 2
Business Plan
50 points E-Commerce Business Plan Types of Business Responsible Hard Worker Risk Taker Creative Organized Flexible Independent Innovative Optimistic Effective Communicator Able to take criticism Protection
Stability Family
Work Groups
Relationships Achievement
Reputation Knowledge
Meaning Beauty
Balance Personal Growth
Fulfillment We use these levels to help us understand our customers. If we can match our products with one of these needs, it will be easier to make sales. These needs will also show how some purchasing decisions are made. Four Stages:
Decline Normal PLC Small start, steady growth followed by maturity and decline. Fad PLC Quick growth, very little maturity, very steep decline Seasonal PLC Good sales, but only at certain times of the year. Never really disappears. Niche PLC Low sales throughout entire life. Only sells to a very specific market. Copyright Trademark Patent Protects written, recorded and published material.
Protection is automatic, but can be registered for extra security.
Lasts for 50 years after the author's death.
Covers words and designs such as logos and slogans. Lasts for 15 years and is renewable Exclusive rights to make, use and sell an invention.
Patents can be sold, licensed and traded. Sole-Proprietorship Partnership Incorporation The company belongs to one owner. The owner has unlimited liability, meaning they are responsible for all the profit and losses. When the owner dies, so does the company. Two or more people own the company together. They each share in the liability. This gives more access to startup capital as well as ease in decision making, however there can be more conflicts and managerial problems. This is a legal entity separate from the owners. The corporation pays taxes, can generate income and will last well past the owners. (The oldest company in Canada started in 1670!) There is a lot of legal paperwork to do with a corporation and many strict rules to follow.
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