scarb eesbm6e ppt 01
TRANSCRIPT
Chapter 1:The Foundations of EntrepreneurshipThe Foundations of
Entrepreneurship
CHAPTER 1
This "Deco" border was drawn on the Slide master using PowerPoint's Rectangle and Line tools. A smaller version was placed on the Notes Master by selecting all of the elements (using Select All from the Edit menu), deselecting the unwanted elements such as the Title (holding down the Shift key and clicking on the unwanted elements), and then using Paste as Picture from the Edit menu to place the border on the Notes Master. After pasting as a picture, we used the resize handles (with Shift to maintain the proportions) to reduce it to the size you see.
Be sure to delete this word processing box before using this template for your own presentation.
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
1 - *
The World of the Entrepreneur
Every year U.S. entrepreneurs launch 550,000 new businesses.
Entrepreneurial spirit - the most significant economic development in recent history.
GEM study: 18.7% of adult population in the U.S. is actively involved in trying to start a new business.
Ch. 1: The Foundations of Entrepreneurship
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
1 - *
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
The World of the Entrepreneur
Global Entrepreneurship Monitor (GEM) study reports:
Men are twice as likely to start a business as women.
Most entrepreneurs turn to family members and friends for capital.
Entrepreneurs are most likely to launch businesses when they are
between the ages of 25 and 44.
1 - *
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
What is an Entrepreneur?
One who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on them.
1 - *
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
Characteristics of Entrepreneurs
Desire for responsibility
Confidence in their ability to succeed
Desire for immediate feedback
High level of energy
Future orientation – serial entrepreneurs
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
Entrepreneurship
Diversity!
Anyone – regardless of age, race, gender, color, national origin, or any other characteristic – can become an entrepreneur (although not everyone should).
1 - *
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
Benefits of Entrepreneurship
The opportunity to:
Do what you enjoy and to have fun at it
1 - *
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
Drawbacks of Entrepreneurship
Uncertainty of income
Long hours and hard work
Lower quality of life until the business gets established
High levels of stress
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
Feeding the
Entrepreneurial Fire
Technology advancements
Independent lifestyle
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
1 - *
Ch. 1: The Foundations of Entrepreneurship
FIGURE 1.3 U.S. Retail E-Commerce Revenues Source: Based on Forrester Research, 2008.
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
Feeding the
Entrepreneurial Fire
Technology advancements
Independent lifestyles
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
The Cultural Diversity of Entrepreneurship
Young entrepreneurs
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
1 - *
Ch. 1: The Foundations of Entrepreneurship
The Cultural Diversity of Entrepreneurship
Young entrepreneurs
Women entrepreneurs
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
1 - *
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
The Cultural Diversity of Entrepreneurship
Young entrepreneurs
Women entrepreneurs
Minority-owned enterprises
Immigrant entrepreneurs
Part-time entrepreneurs
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
The Cultural Diversity of Entrepreneurship
Home-based businesses
Family businesses
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
Small Businesses ...
Make up 99.7% of the 30.14 million businesses in the U.S.
Employ 51% of the nation’s private sector workforce.
Create more jobs than big businesses.
60% to 80% of net new jobs over the last decade
Are leaders in offering
1 - *
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
Produce 51% of the nation’s private GDP.
Account for 47% of business sales.
Create 13 times more patents per employees than large companies.
Zipper, light bulb, FM radio, laser,
air conditioning, escalator,
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
1 - *
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
Ten Deadly Mistakes of Entrepreneurship
Management mistakes
1 - *
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
Ten Deadly Mistakes of Entrepreneurship
Uncontrolled growth
Poor location
1 - *
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
Putting Failure Into Perspective
Failure – a natural part of the creative process.
Successful entrepreneurs learn to fail intelligently.
1 - *
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
Avoiding the Pitfalls of
Manage financial resources
Understand financial statements
Set your business apart from the competition
Maintain a positive attitude
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
1 - *
Conclusion
Entrepreneurs:
Are a diverse and talented group of people
Represent a cross-section of society as a whole
Are able to enhance the profitability of their businesses through acquiring additional knowledge and experience
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
1 - *
What is Ahead?
Beginning Considerations
Marketing Considerations
Financial Matters
Making the New Venture a Success
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Printed in the United States of America.
1 - *
CHAPTER 1
This "Deco" border was drawn on the Slide master using PowerPoint's Rectangle and Line tools. A smaller version was placed on the Notes Master by selecting all of the elements (using Select All from the Edit menu), deselecting the unwanted elements such as the Title (holding down the Shift key and clicking on the unwanted elements), and then using Paste as Picture from the Edit menu to place the border on the Notes Master. After pasting as a picture, we used the resize handles (with Shift to maintain the proportions) to reduce it to the size you see.
Be sure to delete this word processing box before using this template for your own presentation.
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
1 - *
The World of the Entrepreneur
Every year U.S. entrepreneurs launch 550,000 new businesses.
Entrepreneurial spirit - the most significant economic development in recent history.
GEM study: 18.7% of adult population in the U.S. is actively involved in trying to start a new business.
Ch. 1: The Foundations of Entrepreneurship
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
1 - *
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
The World of the Entrepreneur
Global Entrepreneurship Monitor (GEM) study reports:
Men are twice as likely to start a business as women.
Most entrepreneurs turn to family members and friends for capital.
Entrepreneurs are most likely to launch businesses when they are
between the ages of 25 and 44.
1 - *
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
What is an Entrepreneur?
One who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on them.
1 - *
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
Characteristics of Entrepreneurs
Desire for responsibility
Confidence in their ability to succeed
Desire for immediate feedback
High level of energy
Future orientation – serial entrepreneurs
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
Entrepreneurship
Diversity!
Anyone – regardless of age, race, gender, color, national origin, or any other characteristic – can become an entrepreneur (although not everyone should).
1 - *
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
Benefits of Entrepreneurship
The opportunity to:
Do what you enjoy and to have fun at it
1 - *
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
Drawbacks of Entrepreneurship
Uncertainty of income
Long hours and hard work
Lower quality of life until the business gets established
High levels of stress
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
Feeding the
Entrepreneurial Fire
Technology advancements
Independent lifestyle
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
1 - *
Ch. 1: The Foundations of Entrepreneurship
FIGURE 1.3 U.S. Retail E-Commerce Revenues Source: Based on Forrester Research, 2008.
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
Feeding the
Entrepreneurial Fire
Technology advancements
Independent lifestyles
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
The Cultural Diversity of Entrepreneurship
Young entrepreneurs
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
1 - *
Ch. 1: The Foundations of Entrepreneurship
The Cultural Diversity of Entrepreneurship
Young entrepreneurs
Women entrepreneurs
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
1 - *
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
The Cultural Diversity of Entrepreneurship
Young entrepreneurs
Women entrepreneurs
Minority-owned enterprises
Immigrant entrepreneurs
Part-time entrepreneurs
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
The Cultural Diversity of Entrepreneurship
Home-based businesses
Family businesses
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
Small Businesses ...
Make up 99.7% of the 30.14 million businesses in the U.S.
Employ 51% of the nation’s private sector workforce.
Create more jobs than big businesses.
60% to 80% of net new jobs over the last decade
Are leaders in offering
1 - *
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
Produce 51% of the nation’s private GDP.
Account for 47% of business sales.
Create 13 times more patents per employees than large companies.
Zipper, light bulb, FM radio, laser,
air conditioning, escalator,
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
1 - *
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
Ten Deadly Mistakes of Entrepreneurship
Management mistakes
1 - *
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
Ten Deadly Mistakes of Entrepreneurship
Uncontrolled growth
Poor location
1 - *
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
Putting Failure Into Perspective
Failure – a natural part of the creative process.
Successful entrepreneurs learn to fail intelligently.
1 - *
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
Avoiding the Pitfalls of
Manage financial resources
Understand financial statements
Set your business apart from the competition
Maintain a positive attitude
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
1 - *
Conclusion
Entrepreneurs:
Are a diverse and talented group of people
Represent a cross-section of society as a whole
Are able to enhance the profitability of their businesses through acquiring additional knowledge and experience
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
1 - *
What is Ahead?
Beginning Considerations
Marketing Considerations
Financial Matters
Making the New Venture a Success
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
Ch. 1: The Foundations of Entrepreneurship
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Printed in the United States of America.
1 - *