1. Problem Solving for Entrepreneurs Entrepreneurship Unit 3, Lesson 3 Copyright © Texas Education Agency, 2013. All Rights Reserved. 1

2. Copyright Copyright © Texas Education Agency. The materials found on this website are copyrighted © and trademarked ™ as the property of the Texas Education Agency and may not be reproduced without the express written permission of the Texas Education Agency, except under the following conditions: 1) Texas public school districts, charter schools, and Education Service Centers may reproduce and use copies of the Materials and Related Materials for the districts’ and schools’ educational use without obtaining permission from the Texas Education Agency; 2) Residents of the state of Texas may reproduce and use copies of the Materials and Related Materials for individual personal use only without obtaining written permission of the Texas Education Agency; 3) Any portion reproduced must be reproduced in its entirety and remain unedited, unaltered and unchanged in any way; 4) No monetary charge can be made for the reproduced materials or any document containing them; however, a reasonable charge to cover only the cost of reproduction and distribution may be charged. Private entities or persons located in Texas that are not Texas public school districts or Texas charter schools or any entity, whether public or private, educational or non-educational, located outside the state of Texas MUST obtain written approval from the Texas Education Agency and will be required to enter into a license agreement that may involve the payment of a licensing fee or a royalty fee. Copyright © Texas Education Agency, 2013. All Rights Reserved. 2

3. Terms Brainstorming 3 Copyright © Texas Education Agency, 2013. All Rights Reserved.

4. Why Problem Solve? Entrepreneurs have to solve problems every day. Using a model for the problem-solving process helps speed up the process. 4 Copyright © Texas Education Agency, 2013. All Rights Reserved.

5. Use the Problem-Solving Process Define the problem Gather information Identify various solutions Evaluate alternatives and select the best option Take action Evaluate the action 5 Copyright © Texas Education Agency, 2013. All Rights Reserved.

6. Use the Problem-Solving Process Identify the problem –Ask what the specific problem is –Make sure you are fixing the correct problem Gather information –Financial reports –Internet –Marketing research 6 Copyright © Texas Education Agency, 2013. All Rights Reserved.

7. Use the Problem-Solving Process Identify various solutions –Find at least two or more solutions –Use brainstorming strategies to find new solutions Evaluate alternatives and select the best option 7 Copyright © Texas Education Agency, 2013. All Rights Reserved.

8. Use the Problem-Solving Process Take action –Implement one of the solutions Evaluate the action –Go back and see if the solution fixed the problem 8 Copyright © Texas Education Agency, 2013. All Rights Reserved.

9. Problem-Solving Skills Communicating –Ensure that everyone knows the plan –Make sure there is open, two-way communication Brainstorming –Non-judgmental –Everyone participates Learning from mistakes –Constructive criticism 9 Copyright © Texas Education Agency, 2013. All Rights Reserved.

10. Assignments Power of Communication Digital Presentation Assignment Communication skills are essential for problem solving. Ask students to list three national or local leaders and prepare a digital presentation to explain how these leaders are strong communicators. The digital presentation must give examples of how each individual’s communication skills were important for successful results. Problem Solving Assignment Use the problem-solving model to develop a plan for a small business owner who runs a successful florist shop. The building leased by the florist has been sold to an individual who will convert the building to an interior design business in six months. The student teams (comprised of two students) must present the decision-making process for the florist shop entrepreneur to use in order to make a decision for the location of their business in six months. The presentation will be evaluated for content, comprehensiveness, preparedness, enthusiasm, and clear communication. The Art of Listening Assignment Ask students to research “Listening Skills.” Then have students prepare a “Top Ten List to Improve Listening Skills” poster that includes graphics. The poster will be evaluated for content and impact. 10 Copyright © Texas Education Agency, 2013. All Rights Reserved.