Running head: PROCESS OF CREATING A BUSINESS
Process of Creating a Business and Key Takeaways
Jamesha S. Grant
Coastal Carolina University
Business Environment
Running head: PROCESS OF CREATING A BUSINESS
Before you start a business, there are some things that you need to be aware of before
entering the business environment. The ability to make ethical decisions is important and
Chapter 4 mentions that your decisions can have a huge influence on your company. Any
decision that you make can either make or break your company financially. It is also extremely
important that you are committed to your business, done thorough research and have an idea of
what you actually want to do. Research is important because you need to have knowledge on the
business environment. Awareness of the economic, competitive, technological, social and global
environment is highly important.
Knowing the state at which your company is in can give you an idea on how to price your
product or service. If times are good, then it may be okay to be pricy, but if the economy is in a
crisis it may not be necessary to price your products on the expensive side.
