Who's it: Social entrepreneurs are those who pursue business not to maximize their own profits but to maximize social and environmental benefits. They aim to promote the welfare of society by balancing profit, society, and the environment. Some
Business and Strategy
Where Do Entrepreneurs’ Business Ideas Come From?
Entrepreneurs' business ideas can come from their daily lives. For example, they commercialize their hobby. Or, they observe the problems people face and then offer products to provide them with solutions. Basically, business ideas are
What are the Factors Causing Deindustrialization
Factors causing deindustrialization occurred due to higher manufacturing productivity, pushing prices and job absorption to continue to fall. The change in the economic structure from a manufacturing-based to a service-based basis has become a
What Are The Impacts of Deindustrialization?
Deindustrialization brings both positive and negative impacts. First, it could reflect an increase in living standards, so consumers spend more dollars on services. Then, the reduced reduction in environmental degradation is an example of its
Solutions To Avoid Business Failure
Solutions to avoid business failure can vary widely. There are countless businesses around us with different backgrounds, including different target markets and resources. For this reason, the types of risks and solutions to deal with them can also
How to deliver customer value? The types
There are several ways to deliver customer value. For example, it can be by quality, design, or other product attributes. Or, it could be through branding, superior after-sales service, and pricing. Each customer will have different
Customer Value: Definition, Importance, Examples
What's it: Customer value refers to how worth a product is to a customer. It represents the difference between the perceived benefits and the costs incurred to obtain the benefits of a product. Perceived value depends on customer perception
Added Value: Definition, Why It Matters, Formula
What's it: Added value is an improvement or addition to something to make it more valuable. Businesses do this by processing inputs into outputs and increasing their value. It creates value when consumers are willing to pay output
Value-Added Product: Definition and Brief Explanation
What's it: A value-added product is any product we can sell at a price higher than it cost to produce it. It can have a broad meaning, like what a manufacturer does. They process raw materials into finished goods for final consumption by methods