Entrepeneurship Research Paper

1886 WordsApr 22, 20138 Pages
Entrepreneurship Research Paper BUS 604: New Business Venture Management Dr. Matasha Murrell-Jones March 18, 2013 Introduction “Entrepreneurship is defined as “the process by which individuals pursue opportunities without regard to resources they currently control.” (Barringer and Ireland, 2010, pg. 6) Individuals who wish to pursue a new business venture need to establish a few things before starting their business in order to have any chance of succeeding. Entrepreneurs need to establish a business idea, have an idea of the service or product they wish to provide, know their value proposition, develop an effective business model, know their market size and growth, know their competitive advantage, have a good management plan, know their revenue and growth projections, and most importantly, figure out their financial requirements. The following paper will discuss these requirements as they pertain to a business venture idea that was created by me, a customer service training company. Business Idea Every business that operates is connected to its customers and has a need for good customer service. “Many organizations have recognized the need not only to attract, but also to retain customers to ensure long-term prosperity and often turn to customer service initiatives as a technique for improving and sustaining customer relationships.” (Macaulay and Cook, 1993, para. 2) This concept of good customer service is sometimes hard to achieve for many companies, so my business idea is to offer customer service training too small to medium sized businesses to start and expand to larger corporations as time goes on. I would call this business something along the lines of Customer Service Training. Services Provided “Poor customer service creates unhappy customers. And the more unhappy a customer is, the more likely they are to delay or withhold

More about Entrepeneurship Research Paper

Open Document