the concept of papalogy

Aug 19th, 2016
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Abraham Lincoln University
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the concept of papalogy

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QUESTION 1For technological advancement in the companyFor social reasons in order to provide a favorable working environmentFor economic reasons so as to promote productivity in the firmNetworking as a form aiding in easy relay of information in the companyThe most persuasive one is economic reasons as this is the main aim of setting up severalfirms; for profitability.QUESTION 2The profitability of the business being adopted- this is important because the non-profitablebusinesses can be non-rewarding which can lead to their collapse.The nature of the current market of the business- when introducing a new innovation thecurrent market should be able to positively embrace it.The government policy on the business being adopted- the government should havefavorable policies protecting the business from unforeseen circumstances.QUESTION 3A venture champion is a person or firm that introduces a new idea in the market despite allthe risks involved.Factors influencing the decisions to establish new ventures include;The market gap- this is whereby a product lacks in the market.New technological innovations that encourage creativityA ready market for the productsFavorable government policiesBackground of individuals who have a propensity to develop new venturesGenerally this people have risk taking behaviors that make them indulge in activities whichthe outcome is uncertain.They are positive thinkers with business minds aimed at maximizing the profits from

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