1 / 9

Business Chapter 8

Business Chapter 8. Chapter 8 section 1 Entrepreneurs- is profit seeker who develops a new product or process and assumes the risk of profit or loss.

elias
Télécharger la présentation

Business Chapter 8

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. Business Chapter 8 • Chapter 8 section 1 • Entrepreneurs- is profit seeker who develops a new product or process and assumes the risk of profit or loss. • E.g. Bill Gates, Donald Trump, Dr. Dre, Shakira, Jay Z, Jennifer Lopez, Beyonce, P-Diddy or Sean John Combs, Russell Simmons, David Beckham, Paris & Nicole Hilton, &The Walton “Sam’s Club & Wal-mart.”, Mom & Dad.

  2. An Entrepreneur • Comes up with an idea, turns that idea into a marketable product, accepts the risks of success or failure, and claims any resulting profit or loss.

  3. Entrepreneurs and Creative Change. • 1. Introduce New Products. • 2. Improve Quality of Existing products. • 3. Introduce New Production Methods. • 4. Introduce New Ways of Doing Business.

  4. Financing the Business • Business need money to begin and run the business. • They must acquire the necessary resources, including hiring employees and buying supplies. • Financial Capital, that is the money needed to start or expand the business. • Financial capital may be obtained through bank loans or from venture capitals.

  5. continued • Venture Capitalist – individuals or companies that specialize in financing start-up firms. • Profit Attracts Competitors. • Entrepreneurs may earn profit in the short run. It is in the long run that attracts competitors and substitutes. • Other businesses will enter the market and try to duplicate the success of the original entrepreneur. • Competitors try to offer a better product or a lower price. • The remain in the long run.

  6. Who isn’t an Entrepreneur? • People may carry out just one of the functions of an entrepreneur. • They may dream up a new product or process, they may dream up a new product or process.

  7. Invention, Innovation, and Entrepreneurs • Innovation is the process of turning an invention into a marketable product. • Inventors are entrepreneurs if they bear the risk of success or failure. • Most inventors work for firms as paid employees. • Pfizer, Dow chemical, or Intel. Apple • Intrapreneurs, are paid even in years when their creative juices slow down.

  8. Managers and entrepreneurs • Most entrepreneurs do more than simply sell their goods ideas to others. • They try to bring their ideas to the market by paying resource owners for the right to control these resources in the business.

  9. Stockholders and Entrepreneurs • In the USA 50,000,000. • Corporation fails, stock holders could lose the amount they paid for that particular stock. • If the corporation thrives, the stock value will increase and stock holders will benefit.

More Related