Chapter 3 Pg 43-64 Your Entrepreneurial Potential

Chapter 3Pg 43-64

Your Entrepreneurial Potential

Review…Enterprising People

"Big Wins Require Big Risks" - Bill Gates


Review…Enterprising People• Enterprising People – are people who

demonstrate many of the characteristics of entrepreneurs. They can make things happen.

• They may pursue their visions as intrapreneurs, or they may try to accomplish their goals in their spare time. Many enterprising people are agents of social change.

• They respond to needs and wants in order to improve the lives of others or to contribute to the community.


Intrapreneurs Intrapreneurs – people who are

entrepreneurial or enterprising within a corporation or organization.


Enterprising People

Terry Fox – Run for Cancer June Callwood – Home for Abused Women Herb Carnegie – Future Aces Rick Hansen – World Motion Tour for

Handicapped Lee Iacocca – Chrysler mini van Sarah McLachlan – Lilith Fair Tour Peter Dalglish – Street Kids International


Enterprising People

Terry Fox – Run for Cancer


Terry Fox set out to raise money for cancer research by running across Canada. He single handedly raised close to $24 million with his Marathon of Hope. What characteristics did Terry exhibit? (600 Million to date)

Enterprising People

June Callwood


June Callwood was a Canadian journalist, author, and social activist. She has founded many youth hostels and women’s shelter’s in Toronto and the GTA. What characteristics did June exhibit?

The Man in Motion Rick Hansen


Rick Hansen was born on August 26, 1957. At age 15 he was in a fatal car crash and suffered a spinal cord injury. He began the Man in Motion tour on March 21, 1985. The purpose of the tour was to raise funds for spinal cord research. He logged over 40,000km through 34 countries (4 continents) and raised $26 million dollars.

Some Characteristics

Strong-WilledStatus-ConsciousAmbitiousCompetitive


SociableTalkativeWittyArgumentativeAdventurous

About You

“Lets Talk” name some of your own enterprising skills

For skills, think of school, sports teams, extra-curricular hobbies, part-time jobs, etc.


Motivators of Entrepreneurs Money - Some wish to work in large

corporations with lots of chances for advancement

Security - Some choose to work in a sector where there is little chance for job loss if you perform well

Meaningful Work - Some really want to help others, or make a difference

Learning New Skills - Some wish to better themselves within an organization


What Motivates You???

Get Involved!

Get involved in your school clubs - teams -student council -yearbook school newspaper - spirit days -helping others start a club -start a band - fund raising

Get involved in your community volunteer - contribute - help a senior listen for problems there may be an opportunity look for ways to do things better create your own summer job talk to local entrepreneurs


Summary

Read pages 35-38 in your text about enterprising people in the workplace

Summarize this talk by answering the question “Why are enterprising employees critical to companies, small business and corporations?”


Are You Creative?

Do you have potential?

Your Entrepreneurial Potential Credit History Collateral Infrastructure Goals Steppingstones Milestones Targets SWOT Analysis - Problem solving Interpersonal skills Critical/Creative/Practical thinking skills


Arthur L. FryIt all starts with an idea and a strong desire to

develop that idea into a successful venture

Arthur L. Fry was a tinkerer and a problem solver as a child: his earliest engineering efforts were devoted to creating custom-designed toboggans from scrap lumber.

Fry invented what is probably the most significant office supply product since the paperclip: the Post-it® Note


Challenges Facing Young Entrepreneurs No Credit History

No Collateral

No Experience


Setting Goals

SMART Principle

- Simple, - Measurable, - Achievable, - Realistic and - Timely


S.W.O.T Analysis Strengths Weaknesses Opportunities Threats

DISCUSS Practice Project; Regent Mall Car Wash

Venture Idea. (Handout)


SWOT Analysis Mercedes BenzSWOT analysis helps to determine Mercedes-Benz's position in the market.

Strengths As a leading automobile company, Mercedes-Benz is in the

prime position to lead other manufacturers around the world. It is well established, provides high quality vehicles, and enjoys very good branding, earning itself plenty of respect and prestige. It is a well known provider of luxury, offering solid design and expertly tuned ride comfort, making them one the most comfortable cars to ride. The company is also market savvy, with good access to global distribution with an array of agreements and alliances.


Weaknesses The quality of the vehicles means that they are

fairly or very expensive, with much of the cost due do fashion and prestige. The strong branding which promotes this has positives and negatives - consumers like a good brand, but high prices can be an issue. Promotion is one clear source of weakness. The company's promotional campaigns are rare, and the cars take a long time to make, which can lead to impatient customers.


Weaknesses Recently, UAW contracts have cast the company

under a negative light. Mercedes Benz should not lose sight of the ever changing market base. And keep a keen eye on the needs of the consumer, and the competitors.


Opportunities There will always be plenty of opportunities for

Mercedes-Benz, which can lead to higher profits and future expansion. The new clean energy cars will be the future, and will be a major new opportunity for the company if they can secure the right technology. Booming car markets in China offer new places to sell, and the honing of already established features will ensure that new customers will want to purchase from Mercedes-Benz.


Threats Competition is increasing, as new and dominating

Asian car markets move towards the global stage. Japan and America have increased car tax for large luxury cars, which makes them less desirable. There are also more subtle social and cultural factors which could have consequences for profitability in the future.


Regent Mall Car Wash For the summer months of June July and August,

think about setting up a car wash detailing spot on the corner parking lot at the Regent Mall. Shoppers could drop off their cars for washing while they shop. Customers choose from a variety of car detailing ‘specials”. Basic wash, wash and wax, wash, wax and a carpet cleaning with vinyl cleaning.

Complete a SMART goals analysis of this Venture idea. What are the obstacle to overcome? What would be the goals to set for March, April and May?

Do a SWOT analysis for this venture. Refer to the handout for more detail


WHY SET GOALS? Day-to Day activities often prevent us from taking

time to set goals. Goal setting ultimately results in change. Change comes hand in hand with risk.

Goal setting is a way to manage change Helps recognize that the present is a

steppingstone to the future. Allows people to choose the path that fits/looks

the best.


Edison or Einstein?• Incremental Problem Solver• List the traits:• -• -• Out of the Box Thinker• List the traits:• -• -


Processes Associated with the Two Brain Hemispheres

Left Hemisphere Verbal Analytical Abstract Rational Logical Linear

Right Hemisphere Nonverbal Synthesizing Seeing Analogies Nonrational Spatial Intuitive Imaginative


KNOW YOUR THINKING STYLE

Read Pg 56-57 Small group study Are you an Edison or an Einstein? Q#1- Adv and Dis adv

Q#3-Different approaches to change

Q#4-Your style and how it will work for you.


Think About Your SkillsInterpersonal Skills

Critical Thinking vs. Creative thinking

Practical Skills


Documents

Chapter 3 Pg 43-64 Your Entrepreneurial Potential