Core competencies. Economies of Scope Definition & Example. Similar to economies of scale, economies of scope provide companies with a means to generate operational efficiencies.
However, economies of scope are often obtained by producing small batches of many items (as opposed to producing large batches of just a few items). Because they frequently involve marketing and distribution efficiencies, economies of scope are more dependent upon demand than economies of scale. What Are Economies Of Scale? When more units of a good or a service can be produced on a larger scale, yet with (on average) less input costs, economies of scale (ES) are said to be achieved.
Alternatively, this means that as a company grows and production units increase, a company will have a better chance to decrease its costs. According to theory, economic growth may be achieved when economies of scale are realized. What is the difference between moral hazard and adverse selection? Adverse selection occurs when there's a lack of symmetric information prior to a deal between a buyer and a seller, whereas moral hazard occurs when there is asymmetric information between two parties and change in behavior of one party after a deal is struck.
Moral hazard and adverse selection are two terms used in economics, risk management and insurance to describe situations where one party is at a disadvantage. Adverse selection describes an undesired result due to the situation where one party of a deal has more accurate and different information than the other party. The party with less information is at a disadvantage to the party with more information. Adverse Selection Definition. What is Adverse Selection?
Share Video undefined What is 'Adverse Selection' Idea-Expression Dichotomy Remains Key to Copyright Protection of New Technology. Posted on October 22, 2014 by Julie Brook, Esq.
Can you state the difference between an idea and the expression of that idea? Don’t worry if it doesn’t slip off your tongue. This distinction is one of the most difficult areas of copyright law but far from academic because copyright law doesn’t protect ideas, but it does protect expressions of ideas. Understanding Derivative Work Copyright – Are you Qualified for Copyright? Derivative Work Copyright – What is Derivative Work?
Before discussing derivative work copyright, you need to have a clear picture of what a derivative work is. Only then can you decide whether to go for derivative work copyright. The Copyright Act (17 U S C) defines derivative work as: "A “derivative work" is a work based upon one or more pre-existing works, such as a translation, musical arrangement, dramatization, fictionalization, motion picture version, sound recording, art reproduction, abridgment, condensation, or any other form in which a work may be recast, transformed, or adapted.
Wex Legal Dictionary / Encyclopedia. Overview In general terms, intellectual property is any product of the human intellect that the law protects from unauthorized use by others.
The ownership of intellectual property inherently creates a limited monopoly in the protected property. Intellectual property is traditionally comprised of four categories: patent, copyright, trademark, and trade secrets. The products of the human intellect that comprise the subject matter of intellectual property are typically characterized as non-rivalrous public goods. Essentially, this means that the same product may be used simultaneously by more than one person without diminishing the availability of that product for use by others. What is Open Source Entrepreneurship? – Tor on Tech. Recently, I commented to Dogpatch's blog which coined the idea of Open Source Entrepreneurship for their philosophy; "the community benefits from a very high level of interactivity and sharing between the members".
With the growing role of open source as an enabler of entrepreneurship, I believe that coining the idea carries responsibility and deserves further elaboration. With EasyPeasy, a community providing an open source operating system for netbooks, I observe that some competitors makes use of open source software alike. They don't, however, share their source code or new builds back with the community - which in the first place provided them with the opportunity. Open source software may be an impetus to entrepreneurship, but is it mutual? Should open source enabled entrepreneurs contribute back, or does the argument “we give back when we grow big” holds? 121115. The Marketing Mix and the 4Ps of Marketing - from MindTools.com. Understanding How to Position Your Market Offering Prime your product's entry into the marketplace by asking the right questions.
What are the 4Ps of Marketing? The 4Ps of marketing is a model for enhancing the components of your ‘marketing mix’ – the way in which you take a new product or service to market. What Is Brand Equity and Why is it Valuable? - Prophet Thinking. Brand Equity Definition. Share Video undefined What is 'Brand Equity'
What is niche marketing? And 8 good reasons why you should bother and not worry about losing out. 7 Steps to Defining Your Niche Market. In their book, Start Your Own Business, the staff of Entrepreneur Media, Inc. guides you through the critical steps to starting a business, then supports you in surviving the first three years as a business owner. In this edited excerpt, the authors explain how you can find the right niche for your entrepreneurial needs. You’ve come up with a great idea for a business, but you’re not ready to roll yet. Before you go any further, the next step is figuring out just who your market is. There are two basic markets you can sell to: consumer and business.
These divisions are fairly obvious. Red Herring Definition. What is 'Red Herring' A red herring is a preliminary prospectus filed by a company with the Securities and Exchange Commission (SEC), usually in connection with the company's initial public offering. A red herring prospectus contains most of the information pertaining to the company's operations and prospects but does not include key details of the issue, such as its price and the number of shares offered. Equity Financing Definition. What is Equity Financing? Share Video undefined. Burn Rate Definition. Share Video undefined What is 'Burn Rate' Burn rate is normally used to describe the rate at which a new company is spending its venture capital to finance overhead before generating positive cash flow from operations; it is a measure of negative cash flow.
Bootstrapping - Small Business Encyclopedia. Definition: To finance your company's startup and growth with the assistance of or input from others . Anyone who's started a business on a shoestring is adept at bootstrapping, or stretching resources--both financial and otherwise--as far as they can. But bootstrapping isn't limited to the startup state. It's a valid way for business owners to treat valuable resources at any stage of their business' growth.
Bootstrapping is one of most effective and inexpensive ways to ensure a business' positive cash flow. What is Bootstrapping? The Percent-Of-Sales Method of Financial Forecasting. Pro Forma Definition. Forecasting Definition. Why You Need to Include Assumptions With Your Financial Projections - ProjectionHub. What Are the Financial Assumptions on a Business Plan? 10 Things to Outsource to a Virtual Assistant. Innovation Skills Profile 2.0 - Centre for Business Innovation. Understand the real skills profile of your company. Kap9primerentrepreneuruka. The Liability of Newness and Small Firm Access to Debt Capital: Forbes Welcome. Advisory Boards - Small Business Encyclopedia. Founders’ Agreements – Startup. Ethical Dilemma Examples. What Causes an Ethical Dilemma in Conducting Business? Differentiation - Are Product, Brand and Service Still Enough? Company’s Core Strategy: 2 Main Objectives of Company’s Core Strategy. How To Create A Disruptive Business Model.
Churn Definition - What is Churn in a subscription. Target Market - Small Business Encyclopedia. What is a Landing Page? Purdue OWL. Primary and secondary research - Market research and consumer protection - Food Standards Agency. What is a Feasibility Study? Solo Entrepreneurs. 4 Differences Between Solopreneurs and an Entrepreneur Working Alone. The three pieces of entrepreneurship: opportunity recognition, opportunity assessment, and opportunity realization - The Berkeley Science Review. Danger Zone: Are you Ignoring your Opportunity Gap? Opportunity Gap Analysis. Reasons to Become an Entrepreneur. 16 Reasons Why People Become Entrepreneurs. Forbes Welcome. Forbes Welcome. Blog from a technology industry entrepreneur and academic about the learnings and experiences in today's business environment. 4 Advantages and Disadvantages of Entrepreneurship.
5 Key Characteristics Every Entrepreneur Should Have. Entrepreneurship: A Working Definition. What is entrepreneurship? definition and meaning. Entrepreneurship Definition.