1. MARKETING MANAGEMENT

2. Distinguishing right from wrong and doing it right Corporate social responsibility Good corporate citizen 3. Social responsibility can be difficult concept Different people have different beliefs Range of issues are ambiguous with respect to right or wrong 4. Social responsible organization Consider the effect of their action on all stakeholders Stakeholders Any group within or outside the organization that has a stake in the organizations performance 5. Economic responsibility Legal responsibility Ethical responsibility Discretionary responsibility 6. Economicresponsibility The business institution is the basic economic unit of society Produce the goods and services that society wants and to maximize the profits for its owners and stakeholders 7. Legal responsibility Business are expected to fulfill their economic goals within the legal framework Legal requirements are imposed by local town councils, state legislators, and federal regulatory agencies 8. Ethical responsibilities Includes behaviors that are not necessarily codified into law and may not serve the corporations direct economic interest. Decision makers should act with equity, fairness, and impartiality, respect the rights of individuals, and provide different treatment of individuals only when relevant to the organizations goals and tasks. 9. Discretionary responsibility Purely voluntary Desire to make contributions not mandated by economics, law, or ethics. Share without any expectations of payback 10. Process of initiating a business venture Organizing the necessary resources Assuming the associated risks and rewards 11. Someonewho engaged inentrepreneurship Category Idealists Optimizers Hard workers Jugglers Sustainers 12. Source reference Study conducted by Yankelovich Partners, reported in Mark Henriks, Type-Cast, Entrepreneur (March 2000): 14-16 Idealists 24% of small business owners Rewarded by chance to work on something new and creative 13. Optimizers 21% of small business owners Get personal satisfaction from being business owners Sustainers 15% of small business owners Enjoy enhance to balance work and personal life 14. Hard workers 20% of small business owners Thrive on the challenge of building a larger, more profitable business Jugglers 20% of small business owners High energy people who enjoy handling every detail of their own business 15. Steven Paul SteveJobs(February 24, 1955 October 5, 2011) 16. William Henry "BillGates III(born October 28, 1955) 17. Oprah Gail Winfrey(born January 29. 1954) 18. Internallocus of control High energy level Need to achieve Self-confidence Awareness of passing time Tolerance for ambiguity 19. Internal locus of control Is the belief by individuals that their future is within their control and that external forces have little influence External locus of control Is the belief by individuals that their future is not within their control but rather is influence by external forces 20. High energy level They persist and work incredibly hard despitetraumas and obstacles More than half worked 60 hours or more per week Only 23% worked fewer than 50 hours per week Majority worked 60 69 hours per week Beyond 70 hours little benefit was gained 21. Need to achieve The people are motivated to excel and pick situations in which success is likely Easy goals no challenge Unrealistically difficult goals cannot be achieved Intermediate goals are challenging and provide great satisfaction when achieved 22. Self confidence People who start and run a business must actdecisively They need confidence They must feel sure about their ability 23. Awareness of passing time Entrepreneurs tend to impatient They feel sense of urgency They want things to progress as if there is no tomorrow They want things moving immediately 24. Tolerance for ambiguity Psychological characteristic that allows a person to be untroubled by disorder and uncertainly 25. Starting with the idea Writing the business plan A documentspecifying the business details prepared by an entrepreneur prior to opening a new business 26. Start up Survival Success Takeoff Resource maturity