1. ENTREPRENEURSHIP

2. Words,words, words entrepreneur (n.) enterprise (n.)
entrepreneurial (adj.)     
an entrepreneurial approach
entrepreneurial skills
small and medium-size enterprises (SME)

3. An entrepreneur is …
…an individual who, rather than working as an employee, runs a business and assumes all the risk and reward of a given business venture, idea, or good or service offered for sale. The entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes. Source:

4. Entrepreneurs …
… play a key role in any economy. These are the people who have the skills and initiative necessary to take good new ideas to market and make the right decisions to make the idea profitable. The reward for the risks taken is the potential economic profits the entrepreneur could earn. Source:

5. It all starts with an idea …
Who is behind these inventions?
Assembly line
Hot-air baloon
Battery CD
Dynamite
Helicopter
Electric guitar
Printing press
Penicillin
Viagra
Parachute
Teddy the Guardian

6. What ideas did they bring to life?
Henry Ford
Montgolfier brothers
Volta
Philips Electronics, Sony Corp
Alfred Nobel
Igor Sikorsky
Les Paul
Johannes Gutenberg
A. Fleming
Phizer Inc.
Faust Vrančić
Ana Burica & Josipa Majić

7. It all starts with a good idea …
Assembly line (Henry Ford)
Hot-air baloon (Montgolfier brothers)
Battery (Volta)
CD (Philips Electronics, Sony Corp.)
Dynamite (Alfred Nobel)
Helicopter (Igor Sikorsky)
Electric guitar (Les Paul)
Printing press (Johannes Gutenberg)
Penicillin (A. Fleming)
Viagra (Phizer Inc.)
Parachute (Faust Vrančić)
Teddy the Guardian (Ana Burica, Josipa Majić)

8. Youngstown business incubator

9. It takes a lot more than an idea to start a business
Business Plan
WHAT? WHY? WHO? HOW? …

10. Business Plan (MK: pp.78-79)
SWOT analysis, sustainable competitive advantage
forecasts, projections vs. actual figures
break-even point
exit strategy
target market

11. What is entrepreneurship about?
Crazy Diamonds (RB.p.60)
It is not always about …
But it is about …

12. Words, words, words misconception misleading assumptions boost growth
venture capitalist
create jobs
barriers to entry
start-ups
clusters
conventional businessman
determination
policymakers
overcome obstacles
gurus
Silicon Valley

13. What is this evidence of?
George Mitchell (3)
Miguel Davila (3)
Jim McCann (4)
Valley of the BioGhosts (5)
Celtel (7)
Sea to Table (7)
TCS (8)

14. RB.p.60: Crazy Diamonds
What is entrepreneurship? What is it usually related to? (pgs. 1-4)
Misconceptions? (pg. 5)
Redefining entrepreneurship (pgs. 6-8)
Advice to policymakers? (pgs. 9-10)