Ch. 1 Should You Become And Entrepreneur
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Ch. 1 Should You Become And Entrepreneur

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Ch. 1 Should You Become And Entrepreneur Ch. 1 Should You Become And Entrepreneur Presentation Transcript

  • Chapter 1-Should You Become an Entrepreneur? Business Ownership Spring 2007 Williams C. Greene, (2000). Entrepreneurship Ideas in Action. Cincinnati, OH: South-Western.
  • Spelling Test
    • ENTREPRENEUR
  • Popularity of Small Business
    • Most large businesses today began as small business
    • Small businesses are operated by one or a few individuals
    • Famous small businesses turned into large businesses:
      • Subway, McDonalds, and Holiday Inn
  • Lesson 1.1 What is an Entrepreneur?
    • What do you think an Entrepreneur is????
    • People who own, operate, and take the risk of a business venture are called entrepreneurs .
    • These people are engaged in entrepreneurship which is the process of running a business of one’s own. (pg. 4)
  • Employees vs. Entrepreneurs
    • Entrepreneurs assume RISK!!!!
    • Employees are different than entrepreneurs, employees are people who work for someone else.
    • Entrepreneurs are directly affected by the outcomes of their decisions. (pg. 4)
  • Intrapreneurship
    • An Intrapreneur is an employee who is given funds and freedom to create a special unit or department within a company in order to develop a new product, process, or service
      • 3M utilized intrapreneurship to create Post-It notes
  • Class Activity
    • Dividing Line-Debate
    • Which would you rather be:
    • Entrepreneur or Employee and why?
  • Types of Entrepreneurial Businesses
    • Manufacturing -produce products they sell
    • Wholesale -Sell products to people other than the final customer
    • Retail -Sell products directly to the people who use or consume them
    • Service -Sell services rather than products (pg. 5)
  • What Businesses Sell (pg. 5) Plumbing Sporting Goods Paper Stone, Clay, and Glass Painting Shoes Machinery Food Products Babysitting Jewelry Electrical Goods Chemical Products Appliance Repair Florists Apparel Metal Products Service Retailing Wholesaling Manufacturing
  • Lesson 1.2 Are You an Entrepreneur?
    • Researchers have identified several characteristics that distinguish successful entrepreneurs.
    • Successful Entrepreneurs are/have:
    • Independent
    • Self-Confident
    • Determination and Perseverance
    • Goal-Oriented
    • A need to achieve and set high standards
    • Creative
    • Able to act quickly (pg. 9)
  • Self-Assessment
    • To determine if entrepreneurship is right for you, you first need to perform a self-assessment.
    • A self-assessment is an evaluation of your strengths and weaknesses.
            • (pg. 10)
  • Aptitude
    • Different jobs require different job aptitudes.
    • Aptitude is the ability to learn a particularly kind of job.
    • See Job Attributes Checklist on pg. 11
  • Advantages/Disadvantages
    • Advantages of Entrepreneurs
    • Own boss
    • Choose a business of your interest
    • Can be creative
    • Can make lots of money
    • Disadvantages of Entrepreneurs
    • Risky
    • Face uncertain and irregular incomes
    • Work long hours
    • Make all decisions by themselves (pg. 12-13)
  • Class Activity
    • Complete the Entrepreneur Aptitude Test