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- Venture capital (VC) - is a type of private equity, a form of financing that is provided by firms or funds to small, early-stage, emerging firms that are deemed to have high growth potential, or which have demonstrated high growth (in terms of number of employees, annual revenue, or both). Venture capital firms or funds invest in these early-stage companies in exchange for equity, or an ownership stake, in the companies they invest in. Venture capitalists take on the risk of financing risky start-ups in the hopes that some of the firms they support will become successful. The start-ups are usually based on an innovative technology or business model and they are usually from the high technology industries, such as information technology (IT), clean technology or biotechnology.
- An angel investor - is an affluent individual who provides capital for a business start-up, usually in exchange for convertible debt or ownership equity. A small but increasing number of angel investors invest online through equity crowdfunding or organize themselves into angel groups or angel networks to share research and pool their investment capital, as well as to provide advice to their portfolio companies.
- Crowdfunding - is the practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the Internet. Crowdfunding is a form of crowdsourcing and alternative finance
- -Are unlimited
- -A single want is satiable, some wants arise again and again
- -Wants vary with time, place and person present wants are more important than future wants
- -Wants change and expand with development
- -Indian philosophy is to limit our wants to get more and more satisfaction
- NATURAL (BASIC) WANTS & CULTURAL (HIGHER) WANTS
- ONE-TIME WANTS & REPEATABLE WANTS
- PRESENT WANTS & FUTURE WANTS
- GOODS are those which have a price and their supply is less in relation to their demand or is scarce. The production of such goods requires scarce resources having alternative uses.
- CONSUMER GOODS are those goods, which satisfy the want of consumer directly. They are goods, which are used for consumption
- PRODUCER GOODS are those goods, which satisfy the want of consumers indirectly. As they help in producing other goods, they are known as producer goods
- INTERMEDIATE GOODS: Raw materials, power, fuels etc. used by the producers for further production of final goods and services are also called intermediate goods.
- Private goods - All goods that are privately owned and are exclusively enjoyed by individuals
- Public goods are those goods, which are owned and enjoyed by the society as a whole. They are available to all people in a society without any discrimination. Both government and private entrepreneurs may produce public goods.
- Core competencies - Managers’ skills and abilities in value-creating activities.
- Individual decision making:
- 1.Rational approach – Suggests how managers should make decisions
- a)Monitor the Decision Environment
- b)Define the decision Problem
- c)Sepcify Decision Objectives
- d)Diagnose the problem
- e)Develop Alternative Solutions
- f)Evaluate Alternatives
- g)Choose the best alternative
- h)Implement the Chosen Alternative
- The incremental decision process model focuses on structured sequence of activities from discovery to solution, with some decision interrupts (barriers).
- - It places less emphasis on the political and social factor described in the Carnegie model.
- - Large decisions are a collection of small choices
- - Managers select alternative courses of action that are only slightly, or incrementally, different from those used in the past
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