CHARACTERISTICS OF SERVICES The services have unique characteristics which make them different from that of goods. The most common characteristics of services are: Intangibility. Inseparability. Perish ability. Variability Intangibility Services are activities performed by the provider‚ unlike physical products they cannot be seen‚ tasted‚ felt‚ heard or smelt before they are consumed. Since‚ services are not tangibles‚ they do not have features that appeal to the customer’s senses‚ their
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Characteristics of entrepreneurs------------------------------------------------------3 Am I an entrepreneurial “type” of person? -----------------------------------------4 The influence of contexts on entrepreneurial characteristics-------------------5 “Family business” ------------------------------------------------------------------------5 “Small business owners” ----------------------------------------------------------------6 Conclusion----------------------------------------------------------------------------------6
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If the dealybob business were in a perfectly competitive market‚ I wouldn’t have to consider the barriers to entry. In perfect competition there are no barriers to entry; if there are profits to be made‚ other firms will enter the market until economic profits are reduced to the normal profit level. Because of this‚ I would receive zero economic profit if I entered a dealybob market that was in perfectly competitive market. Like a perfectly competitive industry‚ monopolistically competitive industries
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The company we chose to do our project on is Old Navy. Old Navy ’s mission is to be the Provider‚ Partner‚ and Employer of Choice. Their values‚ which were decided upon by 600 leaders of the Company‚ are: Service Excellence: Serving others our reason for existing. We continually seek to understand the needs of all those who depend on us (our patient‚ doctors‚ and our fellow teammates) and then to exceed all their expectations. Integrity: We say what we believe‚ and we do what we say
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companies’ owners claimed that the success of business depend on its profitability. However‚ many multinational companies embed business ethic into their operations. The truth is a business that makes nothing but money is a poor kind of business‚ since it may lead to bad reputation of the company‚ violation of law and poor employee performance. Good reputation is vital for companies‚ since customers and investors ought to purchase goods and do business with well-known companies. Having a bad reputation
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Unless a target market is selected and well researched and understood; whatever a company will produce will not be desired by the consumers as it is not perceived satisfactory or meeting the needs of that specific market. Market segmentation will allow the company to: 1. Be able to match each product with the customer need that it satisfies; different products to meet the different needs. 2. Will better enhance profits‚ as with market segmentation‚ company will be able to price / increase price
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Leadership Characteristics Executive summary: Since early beginning of the last century‚ the leadership has emerged as an important issue in the business regard of the dramatic transformation in the world economy. Thus far‚ the following report represents an attempt to shed the light on the leadership issue. In order to provide a hint of the leadership meaning‚ the report will demonstrate brief idea about some of the leadership theories which perceive
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Characteristics of an entrepreneur Entrepreneurs have many of the same character traits as leaders‚[10] similar to the early great man theories of leadership; however trait-based theories of entrepreneurship are increasingly being called into question. Entrepreneurs are often contrasted with managers and administrators who are said to be more methodical and less prone to risk-taking. Such person-centric models of entrepreneurship have shown to be of questionable validity‚ not least as many real-life
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wrong. They move into cities and drop their prices causing the clientele to shop at their store. As consumers start running to Wal-Mart instead of the Mom and Pop grocer down the road‚ the small businesses are forced into bankruptcy. As these small business owners are forced to liquidate their remaining stock and permanently close their doors‚ options are removed from the shopper’s list. When the majority of competing stores have shut down‚ Wal-Mart immediately raises their prices to a level that wouldn’t
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Characteristics of a Successful Entrepreneur 1. They are self-motivated Successful entrepreneurs do not need someone who holds them accountable or forces them to be efficient and productive. Unfortunately‚ without a manager‚ many people cannot take their business past the planning stages. It takes hard work to create your own business; most people need someone who forces them to keep working. Moreover‚ when people do not have someone to hold them accountable‚ they may let their work’s quality
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