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Entrepreneurship

Entrepreneurship. Lesson Four. Vocabulary. Problem-Solving Quantify Brainstorming Communicate. Problem-solving. The best entrepreneurs use them!. Problem-solving model. Step1: Define the problem. Diagnose it Write it down Quantify. Step 2: Gather information.

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Entrepreneurship

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  1. Entrepreneurship Lesson Four

  2. Vocabulary • Problem-Solving • Quantify • Brainstorming • Communicate

  3. Problem-solving • The best entrepreneurs use them!

  4. Problem-solving model

  5. Step1: Define the problem • Diagnose it • Write it down • Quantify

  6. Step 2: Gather information • What info do you need to solve it? • Company records • Industry data • Trade magazines • Personal info • Other professionals

  7. Step 3: Identify various solutions • Many alternatives • Identify all

  8. Step4: evaluate alternatives and select the best option • Pros and Cons list • Cost of all options • Cannot evaluate all?

  9. Step 5: Take Action • Implement the plan!

  10. Step 6: Evaluate the action • Did you accomplish your goal? • Were there issues? Go back to Step 1

  11. Other skills needed • Communicate • Brainstorm • Learn from Mistakes

  12. Problem-solving model

  13. Assignment Thoughtful response to each item. Use the best grammar you can. • Must the six steps in the problem-solving model be performed in the order described? Why or why not? • How do you think strong communications skills can improve the problem-solving process? Provide specific examples of how a business owner might use communication skills to a resolve a problem.

  14. Assignments - continued • Which of the following is not an example of an entrepreneur? • Diane Molberg started By Request, a successful home bakery business. • Donna Cook started a cleaning service 10 years ago. • Gwen Morgan manages The Secret Garden, a business owned by her sister. • Elmer Olsen created Bayfield Apple Jam and distributes the jam nationally. • Team members who have the right set of skills needed to get the job done are demonstrating _____________?

  15. Assignments - continued • H & R Block tax service is an example of which type of business? • Manufacturing business • Wholesaling business • Retailing business • Service business • The plant where Goodyear tires are made is an example of which type of business? • Manufacturing business • Wholesaling business • Retailing business • Service business

  16. Assignments - continued • According to the Small Business Administration’s Office of Advocacy, how many new businesses survive for at least two years? • 67 percent • 44 percent • 25 percent • 10 percent

  17. Vocabulary • Problem-Solving – one who finds a solution, explanation, or answer for a problem • Quantify - to determine, express, or measure the quantity of • Brainstorming - a group problem-solving technique that involves the spontaneous contribution of ideas from all members of the group • Communicate - to convey knowledge of or information about

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