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Week7.presentation.entrepreneurship Week7.presentation.entrepreneurship Presentation Transcript

  • Chapter 5
    Entrepreneurship and Small Business
  • Warm Up
    What Characteristics does an entrepreneur have ?
    Why might someone become an entrepreneur?
  • Introduction
    Entrepreneurship and small businesses bring vital energy and innovation to the economy.
    The risks involved energize entrepreneurs and small business owners to become successful.
  • What is entrepreneurship?
    A business started by someone who notices a need for a product or a service.
  • Who is an entrepreneur?
    A person who recognizes a business opportunity and organizes and assumes the risks of a business enterprise
    Every year, thousands of entrepreneurs start new businesses. Many stay the same size, others will grow to become giant companies
    Many fail within few years.
  • Advantages of Entrepreneurship
    Satisfaction from becoming a success.
    Showing expertise and skills
    Working from home
    Gaining profit
  • Disadvantages of entrepreneurship
    Total responsibility for the business
    Long working hours
    Financial risk
  • What is virtual business?
    A business operating on the internet.
  • Group Activity
    List some of the inconveniences you experience through your day.
    Try to invent goods and services to help eliminate or lessen the inconvenience.
  • Group Activity
    Everyone is an expert on something. Think about what you know a lot about.
    Pair or group, each group uses their expert knowledge to find an entrepreneurial venture.
    Once a business is agreed upon, each group will prepare for a mock press conference in which the business idea is launched .
    The rest of the class are reporters who ask each group.
  • Small Businesses
    Small business: an independently owned business that usually has the owner as its manager, serves a certain geographical area, employs fewer than 500 people and is not dominant in its industry. ( by the SBA)
  • Advantages
    Being the Boss
    Opportunity to offer services large companies cannot offer
    Ease of formation
  • Dis Advantages
    Great responsibility for business although most of the time there is no experience
    Effect of change
    Managerial skills needed
    Inadequate Financial planning