Georgia Entrepreneurs SS8E3 c

Entrepreneurs Georgia began to industrialize in the early 19th century. Entrepreneurs emerged during this period. An Entrepreneur is a person who takes the risk to start up a new business. Expenses are the costs for businesses to produce goods or services. The money a business receives from consumers is used to pay its expenses. Remaining money is called a profit. Profit is the main incentive, or reason, for starting a business. Entrepreneurs look for new businesses and ways to make a profit. They help expand and develop the economy.

Georgia manufacturing began with the textile industry in the 1830s. Risk is starting a business. An entrepreneur is a risk taker. An entrepreneur invests money in a new business, but cannot know if it will be profitable. A business may lose money. An entrepreneur will research a new business idea to find out the chances of success. Entrepreneurs and their businesses help Georgia’s economy. Coca-Cola, Delta Airlines, Georgia-Pacific, and The Home Depot are examples of Georgia businesses that were started by entrepreneurs.

Coca-Cola The Coca-Cola Company makes many beverages, but best known for its namesake Coca-Cola. Coke is one of the most familiar products in the world. The company was started in the 1880s by a Georgian entrepreneur named John Smith Pemberton. Pemberton worked as a pharmacist. He created the cola formula and sold it as a human tonic. He had to compete with other tonics that were popular at the time.

Delta Air Lines Delta Air Lines is one of the largest airlines in the country. Delta began as an aerial crop dusting service, which sprayed farm crops with chemicals and fertilizer. The company was started in the 1920s by an entrepreneur named Collett E. Woolman. Woolman worked to expand Delta to offer passenger and mail services. In 1929, Woolman bought three planes and started flying passengers between Texas and Mississippi.

Today, Delta flies passengers all over the world. When Woolman started Delta as a passenger service in the 1930s, his small company had to compete with major airlines. The U.S. government began controlling the airline industry during that time. The government set ticket prices, flight routes, and schedules. This government control helped Delta to compete and become successful.

Georgia-Pacific Georgia-Pacific is a paper company based in Atlanta. It is one of the world’s top producers of tissue, pulp, paper, packaging, and building goods. The company was the idea of an entrepreneur named Owen R. Cheatham. Cheatham started the company in 1927 as a small lumber mill. He took the risk to expand his mill into a larger business. By 1938 the company was running five lumberyards in the South. In 1947, Georgia-Pacific bought a lumber mill on the Pacific Coast. The company continues to be successful and produce a wide assortment of goods.

The Home Depot The Home Depot is the world’s largest chain of home improvement stores. It started in 1978 by entrepreneurs named Bernie Marcus and Arthur Blank. Before The Home Depot opened, hardware stores were specialized. A consumer might have to visit many stores to buy the materials needed for one project. Marcus and Blank wanted their stores to sell all of the possible materials a person might need. Operating on a large scale allowed prices to be low and the stores employees were able to be experts in home improvement. The Home Depot changed the way that home improvement stores were operated.

SS8E3.c Quiz 1. The term “entrepreneur” is best defined as: A. Someone who owns a business, but does not handle its operation or management. B. A buyer of goods and services. C. Someone who takes on the operation, management, and risk of a new business. D. An employee of the airline industry.   2. Georgia-Pacific is a company known for manufacturing: A. Tissues, pulp, paper, and packaging. B. Automobiles. C. Processed meats and cheeses. D. Computers and software. 3. Which one of these ideas are BEST associated with The Home Depot business model? A. Stores that sell only local, specialized home improvement goods. B. Store employees who are new to home improvement. C. Lower prices due to a large-scale operation. D. Stores that are opened only on the weekends. 4. World War II helped Georgia’s economy because: A. Jobs were created in other countries. B. It resulted in a limited variety of goods manufactured. C. Cotton stopped being grown as a result of the war. D. The demand for goods increased, and manufacturing grew as a result.