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What entrepreneurs need to know before they start

Published on November 24, 2011 Reviewed on April 30, 2018   30 min

Other Talks in the Series: Entrepreneurship

Hello, I'm Sharon Alvarez. I'm an Associate Professor of Management and the Academic Director for the Center for Entrepreneurship here at Fisher College of Business, the Ohio State University. I have been here for slightly over 10 years. During my time with Fisher College of Business, I have taught undergraduates, graduates, and PhD students, all of them entrepreneurship. In addition, I consult in the Columbus area. The module that I'm going to be speaking to you about is what entrepreneurs need to know before they start acquiring and interpreting information about markets, competitors, and government.
Before we get started, I would like to review today's agenda. The first item on our agenda will be the relationship between opportunities, markets, competitors, and government, for how you analyze the information on the markets, competitors, and government really depends on the nature of the opportunity that an entrepreneur is pursuing. We will talk about whether you're filling or forming a market niche. Our first case will be filling a market niche, and we will use the airline industry and specifically, the case of Skybus Airlines. We will analyze how Skybus examine their customers and customer needs. We will talk about the industry analysis and how Skybus use government policy and regulations to help them further their opportunity. Then, we will move on to forming a market niche and use the case of the Ice hotel. We will talk about how the customers evolved and how the industry analysis would have been very difficult to perform prior to the Ice hotel. We'll talk about how government policy and regulations had to evolve as the Ice hotel itself evolved. Finally, we will conclude with a review of what you have learned today.

What entrepreneurs need to know before they start

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