Week7.presentation.entrepreneurship

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Week7.presentation.entrepreneurship

  1. 1. Chapter 5<br />Entrepreneurship and Small Business<br />
  2. 2. Warm Up<br />What Characteristics does an entrepreneur have ?<br />Why might someone become an entrepreneur?<br />
  3. 3. Introduction<br />Entrepreneurship and small businesses bring vital energy and innovation to the economy.<br />The risks involved energize entrepreneurs and small business owners to become successful.<br />
  4. 4. What is entrepreneurship?<br />A business started by someone who notices a need for a product or a service.<br />
  5. 5. Who is an entrepreneur?<br />A person who recognizes a business opportunity and organizes and assumes the risks of a business enterprise<br />Every year, thousands of entrepreneurs start new businesses. Many stay the same size, others will grow to become giant companies <br /> Many fail within few years.<br />
  6. 6. Advantages of Entrepreneurship<br />Satisfaction from becoming a success.<br />Showing expertise and skills<br />Working from home<br />Gaining profit<br />
  7. 7. Disadvantages of entrepreneurship<br />Total responsibility for the business<br />Long working hours<br />Financial risk<br />
  8. 8. What is virtual business?<br />A business operating on the internet.<br />
  9. 9. Group Activity<br />List some of the inconveniences you experience through your day.<br />Try to invent goods and services to help eliminate or lessen the inconvenience.<br />
  10. 10.
  11. 11. Group Activity<br />Everyone is an expert on something. Think about what you know a lot about.<br />Pair or group, each group uses their expert knowledge to find an entrepreneurial venture.<br />Once a business is agreed upon, each group will prepare for a mock press conference in which the business idea is launched .<br />The rest of the class are reporters who ask each group. <br />
  12. 12. Small Businesses<br />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)<br />
  13. 13. Advantages <br />Being the Boss<br />Opportunity to offer services large companies cannot offer<br />Ease of formation<br />
  14. 14. Dis Advantages<br />Great responsibility for business although most of the time there is no experience<br />Effect of change<br />Managerial skills needed<br />Inadequate Financial planning<br />

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