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I.                     What is Social Responsibility 1.        From Obligations to Responsiveness to Responsibility ·          Social obligation is when a firm engages in social actions because of its obligation to meet certain economic and legal responsibilities. The organization does what it’s obligated to do and nothing more. ·          Social responsibility , says that management’s only social responsibility is to maximize profits. The most outspoken advocate of this approach is economist and Nobel laureate Milton Friedman. ·          Socioeconomic view , says that managers’ social responsibilities go beyond making profits to include protecting and improving society’s welfare. This view is based on the belief that corporations a...

I.         Feasibility Analysis         The process of determining if a business idea is viable. Completing a feasibility analysis require: 1.        Primary Research is a research that is collected by the person or persons completing the analysis. 2.        Secondary Research probes data that is already collected.

I.                       The Difference Between Opportunities and Ideas ·          An opportunity is a favorable set of circumstances that creates a need for a new product, service, or business. ·          An entrepreneur recognizes a problem or an opportunity gap and creates a business to address the problem or fill the identified gap. ·          An opportunity has four essential qualities: It is (1) attractive, (2) timely, (3) durable and (4) anchored in a product, service, or business that creates or adds value for its buyer or end user. ·          Window of opportunity is a metaphor describing the time period in which a firm can realistically enter a new market. ·          ...