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Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 SECTION OPENER / CLOSER INSERT BOOK COVER ART Section 4.1 What.

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Presentation on theme: "Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 SECTION OPENER / CLOSER INSERT BOOK COVER ART Section 4.1 What."— Presentation transcript:

1 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 SECTION OPENER / CLOSER INSERT BOOK COVER ART Section 4.1 What is Entrepreneurship?

2 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 WHAT YOU’LL LEARN What is meant by the term entrepreneur and what makes a person a good candidate for entrepreneurship continued

3 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 WHAT YOU’LL LEARN How to weigh the advantages and disadvantages of entrepreneurship

4 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 General knowledge about entrepreneurship and its pros and cons will help you decide if this career option is suitable for you. WHY IT’S IMPORTANT

5 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 entrepreneur KEY TERM

6 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 An entrepreneur is someone who organizes and then runs a business. The risks can be high, but the rewards can also be great. What is Entrepreneurship? continued

7 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 You’re in charge. There is great job satisfaction. Entrepreneurship can lead to a good income. Advantages of Entrepreneurship

8 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 There is financial risk. Entrepreneurs often work long hours. Competition can be stiff. There are no guarantees of success. Disadvantages of Entrepreneurship

9 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 ETHICS in Action Becoming the Competition You have been the assistant manager of a coffee shop for the past five years and have made friends with many of the customers. You recently inherited a large sum of money and are thinking about opening up a coffee shop of your own. continued

10 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 ETHICS in Action Becoming the Competition There is a perfect space available in a shopping center around the corner from your current place of work, and you think many of the customers that you have befriended would follow you there. continued

11 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 ETHICS in Action Becoming the Competition THINK ABOUT IT Is it fair to open up a shop in direct competition with your current shop? Why or why not? Are there any other solutions?

12 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 Successful entrepreneurs are highly self-motivated. They keep themselves motivated by setting short- and long-term goals. MotivationMotivation

13 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 Entrepreneurs make and follow a plan for achieving their goals. MotivationMotivation

14 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 Entrepreneurs recognize opportunities. They see problems and find a way to build success on them. Sight and Foresight

15 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 Entrepreneurs constantly evaluate their businesses and their customers’ needs in order to achieve success. Sight and Foresight

16 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 Entrepreneurs make business decisions every day, and the decisions must be good ones. Decision Making

17 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 Graphic Organizer 4.1 Chapter 4 EntrepreneurshipSucceeding in the World of Work Traits of Entrepreneurs Have high energy Have high energy Successful Entrepreneurs EntrepreneursSuccessful Want to control destiny Want to control destiny Desire to earn profit Desire to earn profit Are enthusiastic Are enthusiastic Have self- confidence Have self- confidence Recognize opportunities Recognize opportunities Desire achievement Desire achievement Are determined Are determined Take risks Take risks

18 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 Talk to entrepreneurs who have started their own businesses, especially if they work in your area of interest. CAREER CHECKLIST When Starting Your Own Business… continued

19 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 Take a good look at yourself. Do you possess the personal qualities that an entrepreneur needs? If not, brainstorm ways that you can start developing these important qualities. CAREER CHECKLIST When Starting Your Own Business… continued

20 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 Perform further research about business plans and create one for your business. Be creative—sometimes the craziest idea can be a booming success in the business world. Investigate the unfulfilled business needs of your own community. CAREER CHECKLIST When Starting Your Own Business… continued

21 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 Brainstorm with friends and find a partner that you work well with. Be persistent! It may take some time for your plan to become a success. CAREER CHECKLIST When Starting Your Own Business…

22 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 Key Concept Checkpoint Comprehension 1.Give an example of a successful business in your community. How might the traits of an entrepreneur have helped this business succeed? continued SECTION 4.1 REVIEW

23 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 Key Concept Checkpoint Comprehension 2.Are the advantages or the disadvantages of entrepreneurship more important to you? Why? continued SECTION 4.1 REVIEW

24 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 Key Concept Checkpoint Comprehension 3.Why might entrepreneurship offer greater job satisfaction than working for someone else? SECTION 4.1 REVIEW

25 Chapter 4 EntrepreneurshipSucceeding in the World of Work What is Entrepreneurship? 4.1 SECTION OPENER / CLOSER INSERT BOOK COVER ART End of Section 4.1 What is Entrepreneurship?


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