The document provides an overview of a lesson about the impact of entrepreneurship on the world economy. It discusses how entrepreneurship has changed the global economic landscape through competition and collaboration between entrepreneurs from different cultures. It also mentions the concept of a "creative class" and how visualizing a future American economy driven by entrepreneurship.

1. Lesson 1: Impact of Entrepreneurship on the Economy MGT 240 Spring 2009 06/07/09 Channelle D. James PhD

2. Unit one, Lesson one is an overview of the impact that entrepreneurship has had on the world economy. Students will develop an understanding of how entrepreneurship is changing the world, and the competition and collaboration that exists between entrepreneurs from diverse cultures. In the end students will discussion the idea of a creative class, which will help in the visualization of a future American Entrepreneurial economy. There's something happening here. - Stephen Stills 06/07/09 Channelle D. James PhD

3. Why is there an increased interest in entrepreneurship in the US and around the world? What are the major historical developments in entrepreneurship? Describe the economic times of the US from 1965 – 1985 and how does it relate to the growth of entrepreneurship? What are the costs of Free Trade? 06/07/09 Channelle D. James PhD Can you answer these questions?

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8. What is the World Trade Organization? How do countries invest in entrepreneurship? 06/07/09 Channelle D. James PhD Turn the page for more good stuff!

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12. Entrepreneurial Activity: Growth in Small Businesses New business incorporations average 600,000 per year over the past decade. There are over 25 million small businesses; the number continues to grow 2% annually. One of every 150 adults participates in the founding of a new firm each year. Approximately 600,000 to 800,000 are added each year. © 2009 South-Western, a part of Cengage Learning. All rights reserved. 1–

13. Why is the American culture so conducive to entrepreneurial experiences? What are the Myths of Entrepreneurship? 06/07/09 Channelle D. James PhD

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16. What are the characteristics of the “Creative Class”? What are the current trends in entrepreneurship? Are there different theoretical approaches to entrepreneurship? 06/07/09 Channelle D. James PhD

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19. © 2009 South-Western, a part of Cengage Learning. All rights reserved. 1– Venture Financing Social Entrepreneurship Corporate Entrepreneurship Trends in Entrepreneurship Research Entrepreneurial Cognition Global Entrepreneurial Movement Family Businesses Women and Minority Entrepreneurs Entrepreneurial Education

20. Major Research Themes: Venture Financing : venture capital and angel capital financing and other financing techniques strengthened in the 1990s. Corporate Entrepreneurship and the need for entrepreneurial cultures has drawn increased attention. Social Entrepreneurship has unprecedented strength within the new generation of entrepreneurs. Entrepreneurial Cognition is providing new insights into the psychological aspects of the entrepreneurial process. Women and Minority Entrepreneurs appear to face obstacles and difficulties different from those that other entrepreneurs face. The Global Entrepreneurial Movement is increasing. © 2009 South-Western, a part of Cengage Learning. All rights reserved. 1–

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22. 06/07/09 Channelle D. James PhD Source: Michael H. Morris, P. Lewis, and Donald L. Sexton, “Reconceptualizing Entrepreneurship: An Input-Output Perspective,” SAM Advanced Management Journal 59, no.1 (Winter 1994): 21–31.