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Presentation Transcript
Entrepreneurship is a key driver of our economy. Wealth and a high majority of jobs are created by small businesses started by entrepreneurially minded individuals, many of whom go on to create big businesses. People exposed to entrepreneurship frequently express that they have more opportunity to exercise creative freedoms, higher self esteem, and an overall greater sense of control over their own lives. As a result, many experienced business people political leaders, economists, and educators believe that fostering a robust entrepreneurial culture will maximize individual and collective economic and social success on a local, national, and global scale. Entrepreneurship What is it? Who is an entrepreneur? Entrepreneurs – people who own, operate and take the risk of a business venture.
How is an entrepreneur different from an employee? Entrepreneurship Entrepreneurs vs. employees Entrepreneurs work for themselves and assume the risk Employees work for others and are responsible for their job, not the business. Only the entrepreneur or business owner is directly affected by the consequences of business decisions.
Manufacturing Wholesaling Retailing Service Entrepreneurship Types of Entrepreneurial businesses Business forms Penn Lyon Homes Midas Muffler Mall stores
What are they??? Service? Retail? Wholesale? Or manufacturing? ...and who was responsible?
Independence Satisfaction Financial Reward Self-esteem Entrepreneurship Advantages Disadvantages Pgs 11-16-NFTE Business Failure Obstacles Financial Insecurity Long Hours/Hard Work
Recognize an Opportunity Evaluate it critically Write a Business Plan Build a Team Gather Resources Decide Ownership Create Wealth Entrepreneurship 8 rules of building a successful business
Match the description to the person Entrepreneurship He started as a milkshake-machine salesman Characteristics Mary Kay Ash- cosmetics He worked at age 16 for a produce company Robert J. Croak- Silly Bandz John D. Rockefeller- Standard Oil He was a bar owner She/he sold books door-to-door Ray Kroc- McDonalds
2 handouts Interviewing the entrepreneur What can you ask? What can’t you ask?
