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4.05 PowerPoint

4.05 PowerPoint. 4.05 Understand activities and careers in small business management and entrepreneurship. Small Business. Independently owned and operated Must have 100 or fewer employees. Entrepreneurship. The process of starting and running one’s own business. Takes initiative

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4.05 PowerPoint

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  1. 4.05 PowerPoint 4.05 Understand activities and careers in small business management and entrepreneurship.

  2. Small Business • Independently owned and operated • Must have 100 or fewer employees

  3. Entrepreneurship • The process of starting and running one’s own business. • Takes initiative • Involves risk

  4. Market Economy • The US government has a Free Enterprise System • Opportunity to start and own a business • Business ventures are risky, but is usually worth the investment

  5. Basic Forms of Business Ownership Sole Proprietorship – A business owned and operated by one person.

  6. Basic Forms of Business Ownership Partnership - Form of business where two or more individuals share assets, liabilities, and profit.

  7. Basic Forms of Business Ownership Corporation – A business owned by stockholders and run by a CEO.

  8. Basic Forms of Business Ownership Franchise – A legal agreement that gives an individual the right to market a company’s product or service in a particular area.

  9. Business Functionsof an Entrepreneur 1. Financial management: Understand the financial concepts and tools used in making business decisions. 2. Human Resource Management: Understands the concepts and strategies needed to acquire, motivate, develop, and terminate staff. 3. Information Management: Understands the concepts, systems, and tools needed to access, process, maintain, and evaluate, information for business decision-making.

  10. Business Functionsof an Entrepreneur 4. Marketing management: Understands the concepts, systems, and tools needed to access, process, maintain, and evaluate, information for business decision-making. 5. Operations Management: Understands the process and systems implemented to facilitate daily business operations.

  11. Business Functionsof an Entrepreneur 6.Risk Management: Understands the concepts, strategies, and systems that businesses implement and enforce to minimize loss. 7. Strategic Management: Understands the processes, strategies and systems needed to guide the overall business organization.

  12. Entrepreneurial Career Opportunities • Party Planner • Aerobics Instructor • Catering Business • Cleaning Service • Lawn Care Service • Recycling Service • Car Wash Service • Window Washing • Website Developer • Architect • Designer • Musician • Chef • Bed and Breakfast • Home Decorating • Bike Repair

  13. Entrepreneurial Career Opportunities continued … • Limousine Service • Webmaster • Barber Shop • Beauty Consultant • Landscaper • Pet Care Service • Tutoring Service • Computer Repair • Videotaping Service • House-sitting Service • Crafts • Carpet Cleaner • Automotive Repair • Florist What are some others?

  14. P. T. Barnum Fred Deluca Henry Ford William Rosenburg William Gates Oprah Winfrey Liz Claiborne Walt Disney Thomas Edison Debbie Fields Bud Hadfield Andrew Carnegie Successful Entrepreneurs What did they do?

  15. Ted Turner Larry Ellison Mary Kay Ash Donald Trump Dave Thomas Ray Kroc Sam Walton Phil Knight Charles Lazarus Steven Spielberg Richard Branson Edward Lowe Colonel Sanders Sean Combs Successful Entrepreneurs continued What did they do?

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