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Entrepreneurship

Lesson One. Entrepreneurship. Vocabulary. American Recovery & Reinvestment Act 2009 Ethical Behavior Integrity Manufacturing Retailing Service Small Business Administration Wholesaling. Types of Businesses. Manufacturing Wholesaling Retailing Service. Manufacturing.

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Entrepreneurship

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  1. Lesson One Entrepreneurship

  2. Vocabulary • American Recovery & Reinvestment Act 2009 • Ethical Behavior • Integrity • Manufacturing • Retailing • Service • Small Business Administration • Wholesaling

  3. Types of Businesses • Manufacturing • Wholesaling • Retailing • Service

  4. Manufacturing • Apparel and other textile products • Chemicals and related products • Electronics and other electrical equipment • Fabricated metal products • Food products • Industrial machinery and equipment • Printing and publishing • Rubber and miscellaneous plastic products • Stone, clay, and glass products

  5. Wholesaling • Apparel • Electrical goods • Groceries and related products • Hardware, plumbing, heating equipment • Lumber, construction materials • Machinery, equipment, supplies • Motor vehicles, automotive equipment • Paper, paper products, • Petroleum, petroleum products

  6. Retailing • Auto and home supply stores • Building materials and supply stores • Clothing stores • Florists • Furniture stores • Gift, novelty, and souvenir stores • Grocery stores • Hardware stores • Jewelry stores • Retail bakeries • Shoe stores • Sporting goods and bicycle stores

  7. Service • Appliance repair • Automotive repair • Babysitting • Bookkeeping • Consulting • Dance instruction • Electrical services • Exterminators • Flower decorating • House cleaning • Lawn care • Painting • Plumbing • Translating • Travel agency • Tutoring • Web design and maintenance

  8. Other Choices #1 • Agricultural businesses

  9. Other Choices #2 • Mining and extracting businesses • Do you know what “fracking” is?

  10. Other Choices #3 • Green businesses – • Why is ‘going green’ so important?

  11. Success or Failure • According to the SBA • 67 % of new businesses survive at least 2 years • 44 % survive at least four years

  12. Did you plan to fail orfail to plan?

  13. Assignment • Type a thoughtful response to each item. Use the best grammar you can. • What are your reasons for wanting to become an entrepreneur? Do you think they are common to all entrepreneurs, or are some of your reasons unique?

  14. Assignment - continued • Explain how integrity and ethical behavior apply to small businesses. • Why do you think entrepreneurship is important to the US economy? Provide specific examples of how entrepreneurs affect the economy. • What do you think is the most important thing an entrepreneur should do before starting a business to ensure its success?

  15. Vocabulary • American Recovery & Reinvestment Act 2009 – passed to stimulate the American economy after the 2008 economic slowdown. American Recovery and Reinvestment Act of 2009 - Wikipedia, the free encyclopedia • Ethical Behavior - Ethical - Definition and More from the Free Merriam-Webster Dictionary • Integrity - http://www.merriam-webster.com/dictionary/integrity

  16. Vocabulary - continued • Manufacturing – actually produce the products they sell • Retailing – sell products directly to the people who use or consume them • Service – sell services rather than products • Small Business Administration - The U.S. Small Business Administration | SBA.gov • Wholesaling – sell products to other businesses rather than the final consumer.

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