entrepreneurship: ideas in action© south-western publishing chapter 7 slide 1 lesson 7.3 protect...
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ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 7
Slide 1
Lesson 7.3PROTECT YOUR BUSINESS
Categorize business risk.Identify security precautions
to protect your business from different types of theft.
GOALSGOALS
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ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 7
Slide 2
As an independent business person, you will face many risks. Security precautions are the steps you take to protect yourself against different types of risks.
7.3 Protect Your Business
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ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 7
Slide 3Group Activity: Think of examples for each type of BUSINESS RISK
Human risks- those caused by the actions of employees and customers
Natural risksEconomic risks
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ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 7
Slide 4
Categories of BUSINESS RISK
Human risks- those caused by the actions of employees and customersShoplifting, employee theft, credit card
fraud, bounced checks, robberyNatural risks
Storms, fires, floods, earthquakesEconomic risks
Competition, shifts in population, government regulations
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ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 7
Slide 5
SHOPLIFTINGShoplifting is the act of knowingly
taking items from a business without paying.
Customers shoplift millions of dollars in merchandise every year.
http://www.youtube.com/watch?v=lxjL_vooqxg
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ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 7
Slide 6
EMPLOYEE THEFTProcedures for preventing and detecting employee theft include:Prevent dishonest employees from
joining your company. Install surveillance systems.Establish a tough company policy
regarding employee theft.Be on the lookout.http://www.youtube.com/watch?v=VrARLen4hIk
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ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Group Activity: Think of 5 Ways to keep dishonest employees from being hired
Screen job applicants carefullyVerify educational credentialsVerify work experienceTalk to referencesCriminal background checkDriver’s license reportsCivil court recordsCredit reports
Chapter 7
Slide 7
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ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Group Activity: Think of 5 Ways to be on the lookout for dishonest employees
Watch for cash discrepanciesWatch for missing merchandiseWatch for missing suppliesVehicles parked too close to loading
areas
Chapter 7
Slide 8
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ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
More…Employees who seem to work odd hours,
perform poorly, complain unreasonablyMake inquiries if an employee has an
unexplained close relationship with a supplier or a customer
Make inquiries if an employee has a personal lifestyle that seems inconsistent with his salary
Chapter 7
Slide 9
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ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 7
Slide 10
OTHER TYPES OF THEFTRobberyCredit card fraudBounced checkshttp://www.youtube.com/watch?v=j0XJ2
EuL4E0
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ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Group Activity: Think of 5 Ways to Prevent RobberyChoose a safe location for your businessInstall dead-bolt locksInstall burglar alarmsKeep a small amount of cash in registerUse surveillance cameras
Chapter 7
Slide 11
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ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Credit Card FraudIf someone uses a stolen credit card,
the business may not be able to collect the money
Chapter 7
Slide 12
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ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Bounced ChecksA check that is written when there isn’t
enough money in the account to cover it.You could charge a fee for any returned
checks.Ask for identificationMaybe not accept checks at all
Chapter 7
Slide 13
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ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 7
Slide 14
Individual Book WorkPg. 175 (skip #5)