For a manufacturer, the location site choices narrow significantly. Communities have zoning laws that limit manufacturing companies to certain designated areas away from residential, retail, and office commercial sites to reduce the chance of noise, odor, and pollutants affecting the citizens. Often these areas are known as industrial parks […]
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The Trade Area The Trade Area is the region from which the entrepreneur expects to draw customers. The type of business will largely determine the size of the trade area. For example, if a business sells general merchandise that can be found almost anywhere, the trade area is much smaller; […]
Financial Incentives Most community governments are faced with cash needs that go well beyond the tax tolerance level of their citizens; consequently, they work diligently with economic development agencies to attract new business – and the accompanying tax revenues – into the community. One of the ways they attract […]
Finding The Appropriate Business Site If a new venture cannot operate as a virtual organization, a significant part of the organizing process is finding an appropriate site for doing business. Most people are familiar with the three key factors for determining value in home sites: “location, location, location”. Similarly, the […]
Forming a Network of Strategic Alliances in a Virtual World Another way in which virtual companies become more flexible and responsive is by forming strategic alliances, or teams of businesses, to share resources and reduce costs. These alliances are more than sources of capability for the entrepreneurial venture; they are […]
In the early 1990s, the virtual organization was a relatively new concept and certainly had yet to benefit from the Internet, which didn’t affect the business sector in any significant way until 1885. The term virtual organization was borrowed from the science of virtual reality, which enables a person to […]
One of the most eye-opening experiences an entrepreneur can have is identifying all the processes (activities, tasks, etc,) that occur in the business. Even more revealing of how the business works is a process map or flow chart that traces how information flows through the business. The reason for this […]
There is probably no single best organizational structure for all types of ventures in all situations. Rather, the entrepreneur must find the best fit, given the existing contextual factors (environment, technology, market), design factors (strategy, and models), and structural factors (complexity, formalization). A misalignment or misfit among these factors could […]
For small to medium-size company, these tactics are more than just low-cost; they are also very effective. They will provide you with a steady flow of incoming business year after year. They include personal contacts (or networking), face-to-face contacts, classes, free speeches, publicity, circulars, signs, and small ads. These tactics […]
For small to medium-size company, these tactics are more than just low-cost; they are also very effective. They will provide you with a steady flow of incoming business year after year. They include personal contacts (or networking), face-to-face contacts, classes, free speeches, publicity, circulars, signs, and small ads. These tactics […]
