1 / 23

Management 11e John Schermerhorn

Management 11e John Schermerhorn. Chapter 6 Entrepreneurship and New Ventures. Planning Ahead – Chapter 6 Study Questions. What is entrepreneurship? What is special about small business entrepreneurship? How do entrepreneurs start and finance new ventures?.

ddanielle
Télécharger la présentation

Management 11e John Schermerhorn

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Management11e John Schermerhorn Chapter 6 Entrepreneurship and New Ventures

  2. Planning Ahead – Chapter 6 Study Questions • What is entrepreneurship? • What is special about small business entrepreneurship? • How do entrepreneurs start and finance new ventures?

  3. Study Question 1: What is entrepreneurship? • Entrepreneurship • Risk-taking behavior that results in new opportunities • Serial entrepreneur • Starts and runs business and nonprofits over and over again • First-mover advantage • First to exploit a niche or enter a market

  4. Study Question 1: What is entrepreneurship? • Intrapreneurs • Display entrepreneurial behavior as employees of larger firms

  5. Study Question 1: What is entrepreneurship? • Characteristics of entrepreneurs

  6. Study Question 1: What is entrepreneurship? • Diversity and Entrepreneurship • Women and minority entrepreneurs are growing in numbers • Necessity-based entrepreneurship • People start a business because no other employment opportunities exist

  7. Study Question 1: What is entrepreneurship? • Social entrepreneurship • Unique form of ethical entrepreneurship that seeks new ways to solve pressing social problems • Social entrepreneurs • Take risks to find new ways to solve pressing social problems such aspoverty, literacy, illness,homelessness

  8. Study Question 2: What is special about small business entrepreneurship? Small business have fewer than 500 employees

  9. Study Question 2: What is special about small business entrepreneurship? • Starting a small business • Startup • New and temporary venture that is trying to establish a profitable business model • Franchise • One business owner sells to another the right to operate the same business in another location • Lean startups • Use free software and web services while staying small and keeping operations simple

  10. Study Question 2: What is special about small business entrepreneurship? • Options for starting a small business

  11. Study Question 2: What is special about small business entrepreneurship? • Types of internet business models

  12. Study Question 2: What is special about small business entrepreneurship? • Family owned businesses • Largest percentage of businesses worldwide • Feuds result when family members disagree over how the business is run • Possible succession problems • Who will run the business when the current head leaves? • Succession plan outlines leadership transition and financial matters

  13. Study Question 2: What is special about small business entrepreneurship? • Why small businesses fail • SBA reports as many as 60 – 80% fail

  14. Study Question 2: What is special about small business entrepreneurship? • Small business development • Business incubator • Offers space, shared services and advice to get small businesses started • Small Business Development Centers • Founded with U.S. Small Business Administration to provide advice to new and existing small businesses

  15. Study Question 3: How do entrepreneurs start and finance new ventures? • Life cycles of entrepreneurial firms

  16. Study Question 3: How do entrepreneurs start and finance new ventures? • Business plan • Describes goals, operating plans and financing for a new business • Banks want to see a well-developed business plan before loaning money

  17. Study Question 3: How do entrepreneurs start and finance new ventures? • Forms of ownership • Sole Proprietorship • An individual or married couple pursuing business for a profit

  18. Study Question 3: How do entrepreneurs start and finance new ventures? • Forms of ownership • Partnership • Two or more people agree to contribute resources to start and operate a business together

  19. Study Question 3: How do entrepreneurs start and finance new ventures? • Forms of ownership • Corporation • A legal entity that exists separately from its owners • Limited Liability Company (LLC) • A combination of sole proprietorship, partnership, and corporation • Protects owners against personal loss other than what is invested in the company • Treated as a proprietorship or partnership for tax purposes

  20. Study Question 3: How do entrepreneurs start and finance new ventures? • Financing • Debt Financing • involves borrowing money from another person, a bank, or a financial institution • Equity Financing • involves exchanging ownership shares for outside investment monies • Venture Capitalists • Involves making large investments in new ventures in return for an equity stake in the business

  21. Study Question 3: How do entrepreneurs start and finance new ventures? • Financing • Angel Investor • A wealthy individual willing to invest in return for equity in a new venture • Initial Public Offering (IPO) • An initial selling of shares of stock to the public at large

  22. Chapter 6 Case • Sprinkles: Leading a sweet trend

  23. For activities and assessments, please visit… • www.wiley.com/college/schermerhorn

More Related