Business Creation and Growth Summary for GST302 explores essential concepts of entrepreneurship, including e-business strategies, community economic development, and business ethics. This summary provides insights into the marketing, buying, and selling of products and services over the Internet. It is designed for students and professionals looking to enhance their understanding of business dynamics and ethical practices in a digital economy. Key topics include the consumer-to-business model and the importance of ethical organizations in achieving long-term profitability.

Key Points

  • Explains the fundamentals of e-business and electronic commerce.
  • Covers community economic development and its practical applications.
  • Discusses the significance of business ethics in organizational success.
  • Analyzes the consumer-to-business (C2B) model and its impact on product demand.
Laura Okoli
47 pages
Language:English
Type:Study Guide
Accounting
Laura Okoli
47 pages
Language:English
Type:Study Guide
Accounting
Laura Okoli
47 pages
Language:English
Type:Study Guide
Accounting
192

GST302 Business Creation and Growth Summary pdf

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GST302 - BUSINESS CREATION AND GROWTH SUMMARY
E-business (electronic business) is the conduct of business processes on the_____.
Internet
Electronic commerce encompasses the______, buying and selling of merchandise or services over the Internet.
marketing
Electronic commerce encompasses the marketing, ______and selling of merchandise or services over the Internet.
Buying
Electronic commerce encompasses the marketing, buying and ______of merchandise or services over the Internet.
Selling
A key dimension of the 'Community economic development' programme was to understand how its _____ applies in
practice within a national context.
theory
_______ describes a process of economic development within a specific geographic area, to make the economy in that
area work well for that community.
Community economic development
______ described as the trees and reputation as the shadow.
Abraham Lincoln
The Islamic countries like Iran, Saudi Arabia and Iraq have fundamental Islamic ethics guiding their ______interactions.
Business
One author defines business ethics as “the study of how personal moral norms apply to the activities and goals of
commercial __________.
Enterprise
Primarily it is the individual, the consumer, the employee or the human social unit of the society who benefits
from______.
Ethics
Being fair, honest and ethical is one the basic human _________.
Needs
___________ guided by ethics and values are profitable in the long run, though in the short run they may seem to lose
money.
Organizations
A man’s __________is the sum total of all the decisions that he/she takes in course of his life.
Destiny
The consumer-to-business (C2B) model defines a type of e-business where consumers create their own value and demand
for__________.
Products
There are other types of e-business models beyond the business-to-_________ (B2C) model, which is defined by selling
products directly to retail consumers online.
Consumer
___________ is the conduct of business processes on the internet.
E-business (electronic business)
Improvement of the __________ of Life of the Extremely Poor and of the Vulnerable Communities.
Quality
___________ strategic objectives are set out to contribute to achieve the goal
Two
Funding more certain, but still subject to _________ circumstances
Political
Funding may vary, sources are less certain than public __________model
Services
_________ is predetermined-if problem doesn’t fit, need a new program
Structure
Good Business ethics is the key to enhancing___________.
Productivity
___________ practices help in building and maintaining reputation.
Ethical
___________ lays the strategic decision-making.
Ethics
__________ tries to create a sense of right and wrong in the organizations and often when the law fails, it is the ethics that
may stop organizations from harming the society or environment.
Ethics
Potential to address causes, not symptoms (but can do both)-address __________ factors
Structural
_____ capital high-risk capital invested in a combination of loans and shares, usually in a small, dynamic business
Venture
__________ a market for buying and selling company shares. It supervises the issuing of shares by companies
Stock market
________ an asset used as security for a loan
Collateral
Public limited company (plc) – a company with limited liability, and shares that are available to the ______ .
Public
__________ business finance that has no guarantee of repayment or of annual income, but gains a share of the control of
the business and its potential profit
Share capital
_______ about where to obtain the finance will be a matter of considering the business objectives.
Decisions
The first step in creative process according to Holt (1992) is</span>
Idea generation
Every stage of the _____ lifecycle brings new or pre-existing challenges.
business
Your business could still be growing but not at the substantial _____ as you’ve previous experienced.
Rate
Discipline is a common trait of all ______ business people
Successful
Discipline is a common ______of all successful business people.
trait
Having ______means being very structured in our approach to reach our goal.
discipline
______ sometimes requires some sacrifice to reach the end goal.
Discipline
Discipline sometimes requires some ______to reach the end goal.
sacrifice
Discipline sometimes requires some sacrifice to reach the _____goal.
end
Discipline sometimes requires some sacrifice to reach the end______.
Goal
At each stage, your business will rely on a _____ source to help overcome the challenges your business faces
Financial
Having an ______ in place will help you understand where your business is on the current business lifecycle and the
details will allow you foresee upcoming challenges and to make better business decisions.
accounting software
Every stage of the _____ lifecycle brings new or pre-existing challenges
Business
______ guided by ethics and values are profitable in the long run
Organizations
Often _____succeeds law in safeguarding the society.
ethics
Often ethics succeeds _____in safeguarding the society.
Law
Lawyers and public interest litigations may not help a great deal but _____can.
ethics
Being fair, honest and ethical is one the basic human______
needs
Every _____desires to be such himself and to work for an organization that is fair and ethical in its practices.
employee
An _____driven by values is revered by its employees also.
organization
An organization driven by ______is revered by its employees also.
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E-business (electronic business) is the conduct of business processes on the_____.
Ecommerce is also known as

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FAQs

What are the key dimensions of community economic development?
A key dimension of the 'Community economic development' programme is to understand how its theory applies in practice within a national context. This involves describing a process of economic development within a specific geographic area, aiming to make the economy in that area work well for the community. The focus is on improving the quality of life for extremely poor and vulnerable communities.
What is the definition of business ethics according to the document?
Business ethics is defined as 'the study of how personal moral norms apply to the activities and goals of commercial enterprise.' This definition highlights the importance of ethical considerations in business practices and decision-making, emphasizing that ethics guide organizations in their operations and interactions with stakeholders.
How does discipline relate to successful business people?
Discipline is identified as a common trait of all successful business people. It involves being structured in one's approach to reach goals and often requires sacrifices to achieve desired outcomes. The document states that having discipline is essential for managing the challenges that arise at each stage of the business lifecycle.
What is the consumer-to-business (C2B) model in e-business?
The consumer-to-business (C2B) model defines a type of e-business where consumers create their own value and demand for products. This model allows consumers to influence the market by generating demand for specific goods or services, thereby reshaping the traditional dynamics of business transactions.
What are the types of e-business models mentioned in the document?
The document mentions various types of e-business models, including business-to-consumer (B2C), consumer-to-business (C2B), and others that go beyond B2C. Each model defines different relationships and transactions between businesses and consumers, highlighting the diverse landscape of e-commerce.
What challenges do growing businesses face according to the document?
Growing businesses face a range of challenges, including managing increasing revenue, dealing with more customers, and maintaining effective management practices. Other challenges include navigating market competition and ensuring proper accounting management to sustain growth and stability.
What is the significance of a business plan in entrepreneurship?
A business plan is crucial in entrepreneurship as it serves as a roadmap for the business, helping to define goals and strategies. It allows entrepreneurs to anticipate potential problems, validate their business concept, and communicate their vision to stakeholders. The document emphasizes that a well-prepared business plan can significantly enhance decision-making and resource management.

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