1. GROWTH IN TODAY’S MARKETPLACE
Entrepreneurship
11/16/2018
Chapter 15
GROWTH IN TODAY’S MARKETPLACE
15.1 Develop a Strategy for Growth
15.2 Global Trends and Opportunities
15.3 Culture and Business
Chapter 15

2. Lesson 15.1 DEVELOP A STRATEGY FOR GROWTH
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Lesson 15.1 DEVELOP A STRATEGY FOR GROWTH
GOALS
Determine when your business is ready to expand.
Manage the growth of your business.
Select a growth strategy.
Examine product life cycle and development.

3. DETERMINE WHEN TO EXPAND
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DETERMINE WHEN TO EXPAND
Consider the condition of your business
Assess economic conditions

4. CONTROL YOUR GROWTH Create a plan for growth
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CONTROL YOUR GROWTH
Create a plan for growth
A plan for expansion should include strategies for:
Attaining measurable objectives and goals
Hiring managers and supervisors
Financing expansion
Obtaining resources for expansion

5. CHOOSE A GROWTH STRATEGY
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CHOOSE A GROWTH STRATEGY
Penetrate the market
Expand geographically
Diversify with new products or services

6. PRODUCT LIFE CYCLE Stages of a product life cycle Introduction Growth
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PRODUCT LIFE CYCLE
Stages of a product life cycle
Introduction
Growth
Maturity
Decline

7. PRODUCT DEVELOPMENT New product development Strategy development
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PRODUCT DEVELOPMENT
New product development
Idea development
Idea screening
Strategy development
Financial analysis
Product development and testing
Product marketing

8. Lesson 15.2 GLOBAL TRENDS AND OPPORTUNITIES
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Lesson 15.2 GLOBAL TRENDS AND OPPORTUNITIES
GOALS
Identify the different ways you can export and import.
Determine whether international business is right for you.
Evaluate trade regulations that will affect your business.

9. EXPORTS AND IMPORTS Exporting Importing Direct exports
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EXPORTS AND IMPORTS
Exporting
Direct exports
Indirect exports
Using the World Wide Web to export
Importing

10. IS INTERNATIONAL BUSINESS RIGHT FOR YOU?
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IS INTERNATIONAL BUSINESS RIGHT FOR YOU?
Pros and cons of competing globally
Risks of global competition
Analyze the market
Research
Write an international business plan

11. GOVERNMENT REGULATION OF INTERNATIONAL TRADE
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GOVERNMENT REGULATION OF INTERNATIONAL TRADE
Quotas
Tariffs
Qualitative restrictions
The North American Free Trade Agreement
Government assistance to companies operating abroad

12. Lesson 15.3 CULTURE AND BUSINESS
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Lesson 15.3 CULTURE AND BUSINESS
GOALS
Identify and respect different cultures.
Determine why knowledge of different cultures is important for entrepreneurs.

13. Chapter 15
WHAT IS CULTURE?
Culture is the set of customs, beliefs, and social attitudes that characterize a particular group of people.

14. CULTURES WITHIN THE UNITED STATES
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CULTURES WITHIN THE UNITED STATES
Respect cultural diversity
Avoid stereotyping people.
Focus on similarities rather than differences.
Learn about different cultures.
Make friends with someone from a different culture.
Try to understand and identify with other people’s feelings
Market to different cultures

15. CULTURE AND THE GLOBAL MARKETPLACE
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CULTURE AND THE GLOBAL MARKETPLACE
Familiarize yourself with other cultures
Speak the language
Understand cultural practices
Develop cultural sensitivity
Research different cultures