20
MORNING, MORNING, MORNING!! Please take the handout “Sliding Into Business”. Read and answer question. This is your first Warm-up. Remember, warm-ups go inside your notebook behind the Warm-up section.

MORNING, MORNING, MORNING!!

  • Upload
    gyan

  • View
    97

  • Download
    1

Embed Size (px)

DESCRIPTION

MORNING, MORNING, MORNING!!. Please take the handout “Sliding Into Business”. Read and answer question. This is your first Warm-up. Remember, warm-ups go inside your notebook behind the Warm-up section. Have you ever thought about going into business for yourself?. - PowerPoint PPT Presentation

Citation preview

Page 1: MORNING, MORNING, MORNING!!

MORNING, MORNING, MORNING!!

Please take the handout “Sliding Into Business”. Read and answer question. This is your first Warm-up. Remember, warm-ups go inside your notebook behind the Warm-up section.

Page 2: MORNING, MORNING, MORNING!!

If so, you have thought about becoming an ENTREPRENEUR.

Have you ever thought about going into business for

yourself?

Page 3: MORNING, MORNING, MORNING!!

OBJECTIVE: Students will be able to define the terms entrepreneur and small business.

ENTREPRENEURSHIP 1

Page 4: MORNING, MORNING, MORNING!!

KEY TERMSEntrepreneurVentureEntrepreneurshipEntrepreneurialFree EnterpriseProfitSmall Business

Page 5: MORNING, MORNING, MORNING!!

Entrepreneur

An individual who undertakes the risk associated with creating, organizing, and owning a business.

Page 6: MORNING, MORNING, MORNING!!

Entrepreneur ExamplesAuntie Anne’s PretzelsAsk.comKFCIKEAMary Kay, Inc.Best BuySimon Cowell

Page 7: MORNING, MORNING, MORNING!!

Venture

A business undertaking involving a risk.

Page 8: MORNING, MORNING, MORNING!!

Venture (cont.)

Innovative. It provides resources with a new power to create wealth.

Risk. Usually high.Amount of wealth creation. A booming

venture generates substantial wealth “several million dollars of profit”.

Speed of wealth. Fast, usually within 5 yearsInnovation. New-organization, product,

markets, production methods.

Page 9: MORNING, MORNING, MORNING!!

ACTIVITY 1

With a partner, brainstorm and list 5 skills needed to become an entrepreneur. Be ready to explain each skill.

Determine, idea, creativity, organized, resources, leadership, well thought out idea, plan b or backup plan, money, networking

Page 10: MORNING, MORNING, MORNING!!

What’s the Difference?Entrepreneurship vs. Entrepreneurial

Page 11: MORNING, MORNING, MORNING!!

Entrepreneurship

The process of starting and operating one’s own business.

Page 12: MORNING, MORNING, MORNING!!

Entrepreneurial

Acting like an entrepreneur or having entrepreneurial mind-set.

Can anyone be an entrepreneurial? Explain.

Page 13: MORNING, MORNING, MORNING!!

Entrepreneurial Stats1/3 households is involved with new

venture90% has <100 employees62% are home based

Page 14: MORNING, MORNING, MORNING!!

Free Enterprise

People have an important right to make economic choices: choose what products to buy, own private property, start a business and compete with other businesses.

Page 15: MORNING, MORNING, MORNING!!

Profit

Money that is left after all expenses of running a business have been deducted from the income.

Page 16: MORNING, MORNING, MORNING!!

What entrepreneurs contribute?

The mechanism by which the economy turns demand into supply.

Principle source of venture capital.Provide jobsMost successful entrepreneurs change

society.They make economic progress happen.

Page 17: MORNING, MORNING, MORNING!!

Activity Learning from Failure

Page 18: MORNING, MORNING, MORNING!!

Small Business

Created for themselves known originally as “mom and pop stores”

Created lifestyles to meet their personal needs

Examples:

Page 19: MORNING, MORNING, MORNING!!

Reading Activity

How does businesses purchasing from other businesses

generate economic growth?Which cost more to operate?

Manufacturing or trading industry.Why does small businesses produce 13 to

14 times more patents than large firms?What are the advantages of working at a

small business?

Page 20: MORNING, MORNING, MORNING!!

Reading Activity (cont.)

Is a poor area a good place for entrepreneurship?

If a small business enter and exit the market, will the market be affected?

How does small business fuel America’s growth?