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Lahainaluna Entrepreneurship d2 2012


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Entrepreneurship lesson for Lahainaluna students.

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Lahainaluna Entrepreneurship d2 2012

  1. 1. ENTREPRENEURSHIP Day 2Introduction to Marketing Presented by: Mr. Zayas
  2. 2. ENTREPRENEURSHIP Key Term Review
  3. 3. ENTREPRENEURSHIP Entrepreneur
  4. 4. ENTREPRENEURSHIPAn individual who undertakes thecreation, organization, and ownershipof a business.He or she accepts the risks andresponsibilities of business ownershipto gain profits and personalsatisfaction.
  6. 6. ENTREPRENEURSHIPA new business undertaking thatinvolves risk.
  7. 7. ENTREPRENEURSHIP Entrepreneurship
  8. 8. ENTREPRENEURSHIPThe process of recognizing anopportunity, testing it in the market, andgathering resources necessary to go intobusiness.
  9. 9. ENTREPRENEURSHIP Economic Systems
  10. 10. ENTREPRENEURSHIPInclude a set of laws, institutions,and activities that guide economicdecision making.
  11. 11. ENTREPRENEURSHIP Free Enterprise System
  12. 12. ENTREPRENEURSHIPIn a free enterprise system to make economic choices.- People can choose what products to buy.- People can choose to own property.- People can choose to start a business and compete with other businesses.
  13. 13. ENTREPRENEURSHIPThe free enterprise system is also called capitalism or a market economy.- People can choose what products to buy.- People can choose to own property.- People can choose to start a business and compete with other businesses.
  15. 15. ENTREPRENEURSHIPProfit is money that is left after all theexpenses of running a businesshave been deducted from theincome.
  16. 16. ENTREPRENEURSHIP Competition
  17. 17. ENTREPRENEURSHIPIs good for consumers because itpresents choices, it forcescompanies to improve quality, andbecome more efficient, and it leadsto a surplus, which brings pricesdown.
  18. 18. ENTREPRENEURSHIP Needs and Wants
  19. 19. ENTREPRENEURSHIPNeeds are essential- If it’s required in order to live it is a need.- Food, shelter, water, clothes and clean air are needs.- In today’s economy a good education, employment and safety are also needs.- Some people need transportation.
  20. 20. ENTREPRENEURSHIPWants enhance the quality of life- Wants add comfort and pleasure to our lives- Sometimes it’s not easy to tell which products or services are wants and needs.- Sometimes your culture, age, economic status and family lifestyle determine which are necessary.
  21. 21. ENTREPRENEURSHIP Goods and Services
  22. 22. ENTREPRENEURSHIP- Needs and wants are satisfied by consuming goods and services.- Goods are things you can see and touch – products you can purchase to meet your wants and needs.- Services are activities that are consumed at the same time they are produced.
  23. 23. ENTREPRENEURSHIP Factors of Production
  24. 24. ENTREPRENEURSHIP1. Land – All of the natural resources upon and beneath the earth’s surface.2. Labor – The human effort required to produce goods and services.3. Entrepreneurship – The ideas and decisions of the entrepreneur or business owner.4. Capital – Equipment, factory, tools and other goods needed to produce a product.
  25. 25. ENTREPRENEURSHIP Scarcity
  26. 26. ENTREPRENEURSHIPOccurs when demand exceedssupply.
  27. 27. ENTREPRENEURSHIP Economic Indicators
  28. 28. ENTREPRENEURSHIPGross domestic Product (GDP) Total market values of of goods and services produced by workers and capital within a nation during a specific period.
  29. 29. ENTREPRENEURSHIP What do Entrepreneurs Contribute?
  30. 30. ENTREPRENEURSHIPMechanism by which the economyturns demand into supply.
  31. 31. ENTREPRENEURSHIPPrincipal source of venture capital.
  32. 32. ENTREPRENEURSHIP Provide jobs.
  33. 33. ENTREPRENEURSHIPChange society.In In 1976 Steven Jobs and StephenWozniak set out to create Apple, thefirst Personal Computer. Think aboutall the industries that have emergedfrom this event.