UNDERSTANDING BUSINESS (LL/ACCESS)
UNDERSTANDING BUSINESS (LL/ACCESS)
13th Edition
ISBN: 9781264671656
Author: Nickels
Publisher: MCG
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Chapter B.2, Problem 5TP
Summary Introduction

To discuss: Data mining and its use in business.

Introduction: Data mining refers to analyzing large chunk of data to extract meaningful information from it. It is a tool, which helps businesses to provide relevant information about the market and customer base so that market strategies can be planned accordingly.

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1.    Discuss the elements of the mission and vision statements and their importance to new entrepreneurial ventures. 2.    Develop a mission and vision statement for a new technology venture. 3.    Include a corporate social responsibility (CSR) initiative in each statement.
Action innovations for entrepreneurial venture types include; Invention, Extension, Duplication, and Synthesis. What is an idea that you believe would qualify as a good entrepreneurial venture, identify the type of action innovation the idea is, and provide a product or service (or a revolutionary product or service) that would fit the type of innovation you have chosen to discuss as a possible venture. Financial planning company is the venture.
Consider the case of Nutrorim that you read in Module 1 from a culture, structure, and strategy perspective. Answer the following questions. Be sure to support your reasoning with evidence from the case and course concepts. What impact has the democratic culture had on the company’s ability to make good, effective, decisions? How do you think this culture evolved? Do you think the culture is still effective why/why not?
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