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Entrepreneurship And Project


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Entrepreneurship And Project

  1. 1. Chapter 7 The Business of Free Enterprise
  2. 2. Question of the Day <ul><li>In what sport might you hear the term, “long pips?” </li></ul><ul><li>Not something that you have to go to a stadium or other special place to play. </li></ul>
  3. 3. Activity Rules <ul><li>Blindfolded Person </li></ul><ul><ul><li>No running. </li></ul></ul><ul><ul><li>When you come to a desk ask, “Do you have the extra credit voucher?” </li></ul></ul><ul><li>Everybody Else </li></ul><ul><ul><li>Clear the aisles of your bags/stuff. </li></ul></ul><ul><ul><li>No talking, unless asked by blindfolded person if you have the extra credit voucher. </li></ul></ul>
  4. 4. Debriefing <ul><li>Was it difficult to volunteer for something when you did not know the purpose or outcome? </li></ul><ul><li>When observing the students wearing the blindfolds, how did they differ in how they moved to pursue extra credit points? </li></ul><ul><li>What were the risks taken by the blindfolded students? </li></ul><ul><li>What happened to the blindfolded students when they were given an incentive? </li></ul><ul><li>Did some students behave more aggressively than others in pursuing the incentives? What was the result of this behavior? </li></ul>
  5. 5. <ul><li>What is the correlation between the blindfold activity and the Bill Gates quote? </li></ul>
  6. 6. Entrepreneur <ul><li>A person who takes a risk to create a new product or to develop a better way to operate a business. </li></ul>
  7. 7. Your Entrepreneurship Project <ul><li>You will be creating an “investor’s packet.” </li></ul><ul><li>Your job is to convince a venture capitalist to invest in your product or service. </li></ul><ul><li>Product or service description due Monday, February 9th . </li></ul><ul><li>Final project due Friday, February 20th . </li></ul>
  8. 8. Who becomes an entrepreneur? <ul><li>Some start at an early age </li></ul><ul><li>Some develop and sell ordinary products </li></ul><ul><li>Some find new ways to sell </li></ul><ul><li>Some spot new markets and develop new products for them. </li></ul><ul><li>Some work to perfect ideas they have had for years. </li></ul><ul><li>Some work within existing businesses. </li></ul>
  9. 9. What strategies do entrepreneurs use? <ul><li>Unexpected opportunities </li></ul><ul><li>Changing market conditions </li></ul><ul><li>Improving a product or process </li></ul><ul><li>Providing an alternative good or service </li></ul><ul><li>Identifying population trends </li></ul>
  10. 10. What are the challenges facing small business? <ul><li>Poor management </li></ul><ul><li>Inadequate financing </li></ul><ul><li>Inability to hire highly qualified workers </li></ul>
  11. 11. Famous Entrepreneurs <ul><li>Shared characteristics? </li></ul><ul><li>Personality traits? </li></ul>