Entrepeneurship
Segment 10
Decision making
Non routine
Deals with complex issues
Routine
Deals with every day issues.
Segment 8
Sources for financing
Venture capitalists.
Partners.
Private investors.
Friends and relatives.
Personal savings.
Segment 6
Profit and loss statement
It is calculated monthly.
Shows profit.
Shows all expenses.
Shows total sales.
Segment 4
Entrepreneurial risks
Purchasing a business.
Determining spending amounts.
Cost and expenses.
Marketing a product.
Borrowing money.
Segment 2
To establish a vision
Take job opportunities to gain experience.
Imagine all of the possibilities.
Start in an area where you have interest.
Segment 9
Business ownership
Corporation
A business that is chartered and legally operates apart from its owner.
Partnership
Two or more people own a business and share liabilities, assets, and profits.
Sole proprietorship
The owner is the only person responsable for the activities of the business.
Segment 7
Franchises
Advantages
Proper equipment and materials.
Systems are ready and operable.
Product with instant name recongition.
Management expertise available.
Nationwide marketing campaign.
Aspects
Require a percentage of sales to be paid to the franchising company.
Require an initial investment.
Require legal agreement.
Segment 5
Stocks
The cost and the value of a stock indicate how well a company is doing.
Preferred stocks: Pays dicividends to shae holders, but it does not represent ownership.
Common stock: enable share holders to become owners "in common" with other share holders.
Segment 3
Motive of free enterprise
Profit
Profit is defined as what is left from a business income after the expenses of doing business have been subtracted.
Segment 1
Characteristics of an entrepeneur:
Able to simplify complex situations.
Do not like to have authority over them.
Persistent in reaching goals.
Attracted to challenges.
Have a sene of urgency.
Realistic.
Self-confident when in control.
Use hard work and vision to fill a unique need presented by potential costumers.
Use good business practices to achieve sucess.
Able to undertake challenges presented by their ideas.
