Chapter    6          Starting Y Own Business: The                    our          Entrepreneurship Alternative
Learning Goals1   Define the term entrepreneur and          5   Identify personality traits that    distinguish among entr...
W is Entrepreneurship?     hats   An entrepreneur is a person who seeks a    profitable opportunity and takes the necessar...
Categories of Entrepreneurss   Classic Entrepreneurss   Serial Entrepreneurss   Social Entrepreneurs
Entrepreneurship as a Careers   More than 11% of Americans run their own    businesses.s   In an average month, Americans ...
W People Become Entrepreneurs hy
W Entrepreneurship?     hys   Being Your Own Boss    s   Self-management is the motivation that drives        many entrepr...
The Environment for Entrepreneurship
Globalizations   The rapid globalization of business has created many    opportunities for entrepreneurs.
Education / IT / Demographic and    Economic Trendss   Education     s   100 U.S. colleges and universities offer entrepre...
Characteristics of Entrepreneurs
Entrepreneurial Characteristicss   Vision - entrepreneurs begin with an overall idea for how to    make their business ide...
Entrepreneurial Quiz
Starting a New Ventures   Selecting a Business Idea    s   Find something you love to do and are good at        doing    s...
Buying an Existing Businesss   Advantages:    s   Established customers    s   Deal with familiar suppliers    s   Good/se...
Creating a Business Plans   58% of the most recent Inc. CEOs did not create a    formal written plan.s   But business plan...
Finding Financings   Debt Financing    s   Credit Cards    s   Family and Friends    s   Bank Loans (SBA backed)s   Equity...
Government Support for New Venturess   Business Incubators are a key way    government supports new ventures    s Clean En...
Intrapreneurships   Promoting innovation within    organizational structuress   An idea to promote creativitys   Companies...
Upcoming SlideShare
Loading in …5
×

Chapter 6: Entrepreneurship

1,800 views

Published on

14th edition

Published in: Business, News & Politics
0 Comments
2 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
1,800
On SlideShare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
53
Comments
0
Likes
2
Embeds 0
No embeds

No notes for slide

Chapter 6: Entrepreneurship

  1. 1. Chapter 6 Starting Y Own Business: The our Entrepreneurship Alternative
  2. 2. Learning Goals1 Define the term entrepreneur and 5 Identify personality traits that distinguish among entrepreneurs, small- typically characterize successful business owners, and managers. entrepreneurs.2 Identify the different types of 6 Summarize the process of starting a entrepreneurs. new venture.3 Explain why people choose to become 7 Explain how organizations promote entrepreneurs. intrapreneurship.4 Discuss factors that support and expand opportunities for entrepreneurs.
  3. 3. W is Entrepreneurship? hats An entrepreneur is a person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business.s Differ from many small-business owners in their strong desire to make their business grow.s Differ from managers through their overriding responsibility to use the resources of the organization to accomplish their goals.s Willing to take risks.
  4. 4. Categories of Entrepreneurss Classic Entrepreneurss Serial Entrepreneurss Social Entrepreneurs
  5. 5. Entrepreneurship as a Careers More than 11% of Americans run their own businesses.s In an average month, Americans start approximately 465,000 new businesses.s The past two decades have shown a heightened interest in entrepreneurial careers.s People choose entrepreneurship for many reasons: s Dissatisfaction with traditional work s Their ideas fulfill customer needs
  6. 6. W People Become Entrepreneurs hy
  7. 7. W Entrepreneurship? hys Being Your Own Boss s Self-management is the motivation that drives many entrepreneurs.s Financial Success s Entrepreneurs are wealth creators.s Job Security s Over the past ten years, large companies have eliminated more jobs than they have created.s Quality of Life s Starting a business gives the founder some choice over when, where, and how to work.
  8. 8. The Environment for Entrepreneurship
  9. 9. Globalizations The rapid globalization of business has created many opportunities for entrepreneurs.
  10. 10. Education / IT / Demographic and Economic Trendss Education s 100 U.S. colleges and universities offer entrepreneurship majors. s Universities are helping students launch businesses. s Many programs teach entrepreneurship to young people.s Information Technology s Technology has given entrepreneurs tools that help them compete. s Entrepreneurs have used information technology to revolutionize industries.s Demographic and Economic Trends s Aging of U.S. population. s Emergence of Hispanics as nation’s largest ethnic group. s Growth of two-income families.
  11. 11. Characteristics of Entrepreneurs
  12. 12. Entrepreneurial Characteristicss Vision - entrepreneurs begin with an overall idea for how to make their business ideas successfuls High Energy Level - a willingness to work hards Need to Achieve - entrepreneurs work hard because they want to excels Self-Confidence - fearlessness in the face of difficult oddss Tolerance for Failure - entrepreneurs are not easily discourageds Creativity - entrepreneurs devise innovative ways to overcome difficult problems and situationss Tolerance for Ambiguity - entrepreneurs take in stride uncertaintiess Internal Locus of Control - entrepreneurs believe they can control their own fates
  13. 13. Entrepreneurial Quiz
  14. 14. Starting a New Ventures Selecting a Business Idea s Find something you love to do and are good at doing s Can your idea satisfy a need in the marketplace?s Entrepreneurs must be sure that the idea they choose has interest in the marketplace.s Business Plan
  15. 15. Buying an Existing Businesss Advantages: s Established customers s Deal with familiar suppliers s Good/service known in marketplace s Necessary permits and licenses are already secured s Financing may be easier s Seller financing
  16. 16. Creating a Business Plans 58% of the most recent Inc. CEOs did not create a formal written plan.s But business plans do help entrepreneurs prepare enough resources and stay focused on key objectives.
  17. 17. Finding Financings Debt Financing s Credit Cards s Family and Friends s Bank Loans (SBA backed)s Equity Financing s Venture Capitalists s Angel Investors
  18. 18. Government Support for New Venturess Business Incubators are a key way government supports new ventures s Clean Energy Incubator (CEI)s Enterprise Zones s Encourage entrepreneurship in specific geographic areass Government Legislation s Immigration Act of 1990
  19. 19. Intrapreneurships Promoting innovation within organizational structuress An idea to promote creativitys Companies promote in a variety of ways s Skunkworks s Pacing Programs

×