Business Strategies and Mindset
- Determine different types of local, domestic, and global business model strategies.,
- Assess the characteristics of an entrepreneurial mindset.
Business Model Strategies and the Entrepreneurial Mindset
Types of Business Model Strategies
Local Business Strategies
- Brick-and-Mortar Model – A physical store serving a specific community (e.g., local grocery stores, small boutiques).
- Service-Based Model – Provides specialized services within a limited area (e.g., local consulting firms, repair services).
- Franchise Model – A business replicating a successful brand within a local market under a licensing agreement (e.g., fast-food chains).
Domestic Business Strategies
- E-Commerce Model – Selling products/services online to customers within a single country (e.g., national retailers with online stores).
- Direct Sales Model – Businesses that bypass intermediaries to sell directly to consumers (e.g., subscription-based meal kits).
- Hybrid Model – Combining physical and digital sales channels (e.g., retailers with both in-store and online shopping options).
Global Business Strategies
- Export Strategy – Selling domestic products to international markets without major local presence (e.g., manufacturers shipping goods overseas).
- Licensing and Franchising – Allowing foreign entities to use branding and operations in exchange for royalties (e.g., McDonald’s global franchises)…
Business Model Strategies and the Entrepreneurial Mindset
Types of Business Model Strategies
Local Business Strategies
- Brick-and-Mortar Model – A physical store serving a specific community (e.g., local grocery stores, small boutiques).
- Service-Based Model – Provides specialized services within a limited area (e.g., local consulting firms, repair services).
- Franchise Model – A business replicating a successful brand within a local market under a licensing agreement (e.g., fast-food chains).
Domestic Business Strategies
- E-Commerce Model – Selling products/services online to customers within a single country (e.g., national retailers with online stores).
- Direct Sales Model – Businesses that bypass intermediaries to sell directly to consumers (e.g., subscription-based meal kits).
- Hybrid Model – Combining physical and digital sales channels (e.g., retailers with both in-store and online shopping options).
Global Business Strategies
- Export Strategy – Selling domestic products to international markets without major local presence (e.g., manufacturers shipping goods overseas).
- Licensing and Franchising – Allowing foreign entities to use branding and operations in exchange for royalties (e.g., McDonald’s global franchises)…
