It is always important to be aware of legal issues so that you can take advantage of legal protection and avoid damages and extra fees. Legal Forms of Organization Least Protected Sole Proprietor Partnership Bridges S-Corp LLC Most Protected C-Corp Non-profit Sole Proprietor Advantages Easy and cheap to create 100% control and profit No information…
Social Innovation Pt. 2
Propose a social entrepreneurial venture that might help solve a social problem. You may consider both humanitarian or environmental innovations One social problem that I think should be addressed more is support for inmates being released from prison. When former inmates get out of prison, they have no money, no clothes, no housing, no food….
Social Innovation Pt. 1
Reflect upon the differences noted between the video examples of social entrepreneurship ventures and charitable initiatives. Refer to the differences highlighted in the chart from the module. Which were evident in the video examples Some of the main differences in social entrepreneurship ventures and charitable initiatives lie within how they address their problem. With a…
Budget and Financial Statements
The most important part of a budget plan is knowing how much your income is and how to spend it. Without the knowledge of these two concepts, there will be no funding for a business, which results in no business at all. I have my own personal budget, that can easily relate to an entrepreneurship…
Initial Group Meeting
Problems That Have Arisen After submitting our proposals, we were assigned our groups. One of my group members reached out and shared a Google document in which we could use to communicate with each other. I replied to the Google Document, and then I did not hear anything else after that. I decided to create…
Ethics
Ethics matter in entrepreneurship because good ethics = good business. Good ethics instills trust and confidence in customers and it gives your customers a chance to show them what you and your business stand for and believe in. In businesses, legality and morality/ethics is a conflict some might face. While a venture may be successful,…
Identifying Opportunities and Planning
Identifying opportunities and threats go hand in hand with planning. It was identified in this module that human beings have a psychological disorder that refrains them from looking at the environment in a systematic way, which is called change blindness. Good ideas, therefore, need to be implemented in a structured manner both in bearing in…
Creating a Proposal
5/23/2019 Creating a proposal for this class was a process that involved many steps. I first referred back to my Business Canvas Model in order to find a starting point. Next, I started working on the 5 topics given to us, section by section. Problem In order to figure out the problem, I researched why…
Design Thinking
Design thinking is a very important module that I believe will help me with the rest of this course. The definition provided in the module describes design thinking as, “a human-centered approach to innovation that draws from the designer’s toolkit to integrate the needs of people, the possibilities of technology, and the requirements for business…
Entrepreneurship the ODU Way
5/21/2019 ODU believes that entrepreneurship is for everyone. Described best in the module, “Anyone from any profession, experience, or background can turn ideas into an enterprise”. This module mainly focuses on how to get started on turning an idea to an enterprise, and more specifically, the business model creation. There are four phases, or processes,…