1. ENTREPRENEURSHIP, 4/e Chapter 1: Entrepreneurship Today
Peggy A. Lambing and Charles R. Kuehl
PowerPoint presentation created by Peggy Lambing

2. Learning Objectives
To become aware of the way in which entrepreneurship emerged as a leading economic force during the 1980s and the 1990s
To appreciate the nature of the U.S. economy is undergoing important changes as we start the new century
To see that countries worldwide have discovered entrepreneurship as a source of economic vitality
To comprehend that small business has what it takes to compete successfully with much larger organizations

3. Industry Structure 1955—focus on big business
1955—one small business for every 38 people
2000—one small business for every 12.7 people

4. Increasing Number of Small Businesses
Foreign competitors disrupting big corporations
Start of deregulation

5. Increase in Small Businesses
Year Businesses Per Person
/ / / / / /12.7

6. Downsizing
Firms systematically and substantially reduce the number of people they employ to achieve a reduction in cost
Organizational survival or top-management greed?

7. Societal Change End of jobs?
Post-industrial society: a country where large-scale businesses are no longer as important as they were

8. Consequences for the Individual
Unemployment or underemployment
Uncertainties and pressures of job insecurity
Wave of interest in entrepreneurship worldwide

9. Entrepreneurship in a Changing Environment
Changes in Markets
Outsourcing
Virtual organizations
Market fragmentation

10. New Markets
Green markets
Market place
Market space

11. Competitive Advantages of Small Business
Allows a business to compete effectively
Personal relationship with customer
Ability to innovate
Flexibility