Compare and contrast setting up a traditional, brick-and-mortar business and an online business. Consider factors such as entrepreneurial skills, facilities and equipment, and business processes?
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Well, it’s pretty straightforward.
Bricks and mortar = physical store, outlet, factory etc
Online = website
Bricks and mortar = limited geographic reach
Online = global reach
Bricks and mortar = expensive set up costs
online = cheap by comparison
bricks and mortar/online = same entrepreneurial skills. Have to identify gap in the market and be able to move into it.
Business processes may be more automated in online environment.