ENTREPRENEURSHIP AND SMALL BUSINESS MANAGEMENT Trends and Global Business

Vocabulary Services Outsourcing Strategic alliance Corporate Venture Innovation Niche Brainstorm Demographics Trade Show Values Goodwill Franchise Franchisee Franchisor Global economy Exporting Importing Trade Barrier Tariff Gross Domestic Product International Business Exchange Disposable Income

CHAPTER 3

Types of Businesses Internet Service Home-Based Non-Profit How do you turn an idea into an opportunity? Use page to help you answer. Don’t copy what it says, use it to determine your own answer. Type out a paragraph explaining your answer.

Sources of Ideas Observe Realize Demographic Changes  Ex. Rosetta Stone Read Analyze your own experiences Analyze outside experiences  Magazines/Trade Shows

Start your own vs. Buying a Business Read pages 58-60; List advantage/disadvantages of “Entering Family Business” vs. “Buying an Existing Business” vs. “Buying a Franchise” Read the list on page 63 of “What you must do” before starting a business. List the top two from the list that you think would be the hardest and why.

CHAPTER 4

Global Entrepreneurship Complete the Venn Diagram as described on Pg. 70 Answer the two following questions to your best ability:  Why is importing from other countries important to an entrepreneurs success?  How does importing hurt the American economy?

Entering Global Market Understanding Curve Showing International Respect Decide a product to export/import Finding Import/Export Opportunities Consider Government Regulations Review the “5 Things to Consider before going Global” (Page 82) Answer the Critical Thinking #4 on pg. 83 Answer Critical Thinking #8 and #9 on pg. 85