How does an entrepreneur develop a business plan?
Leadership Roles and Responsibilities
Setting goals, determining how goals can be met, and how to respond to the actions of competitors is the role of management. Management also solves problems, manages the work of employees, and evaluates the activities of the business.
The primary reason a business exists in a market economy is to produce products or services to consumers and to earn a profit. The production function creates or obtains products or services for sale.
- Find the recipe and provide to everyone on the team. Provide instructions and training to the team on how to create the product.
- Develop a prototype.
- Make the prototype for the taste test
- Plan out the purchase process and buy all supplies.
All businesses in a market economy need to complete marketing activities in order to make their products and services available to consumers. These activities make up the marketing mix, which includes: product, distribution, price, and promotion. The goal is to attract as many customers as possible so that the product succeeds in the marketplace.
- Window display
- Social media contest with hashtag
- Posters for school
- Two specialty promotions
It is necessary in all businesses in a market economy for a great deal of time to be spent developing, implementing, and evaluating plans and activities.
- Determine cost, sell price, and profit
- Serve as the banker - start-up cash, etc.
- Daily report of balance sheet
- Decorate display/sales table
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