Lesson Onemgt240 Powerpoint

Lesson 1: Impact of Entrepreneurship on the Economy

MGT 240Spring 2009

04/12/231Channelle D. James PhD

Unit one, Lesson one is an overview of the impact that entrepreneurship has had on the world economy. Students will develop an understanding of how entrepreneurship is changing the world, and the competition and collaboration that exists between entrepreneurs from diverse cultures. In the end students will discussion the idea of a creative class, which will help in the visualization of a future American Entrepreneurial economy.

There's something happening here.- - Stephen Stills

04/12/23 2Channelle D. James PhD

Why is there an increased interest in entrepreneurship in the US and around the world?

What are the major historical developments in entrepreneurship?

Describe the economic times of the US from 1965 – 1985 and how does it relate to the growth of entrepreneurship?

What are the costs of Free Trade?

04/12/23Channelle D. James PhD 3

Can you

answer these

questions?





What is the World Trade Organization? How do countries invest in

entrepreneurship?


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© 2009 South-Western, a part of Cengage Learning. All rights reserved.1–12

Entrepreneurial Activity: Growth in Small Businesses› New business incorporations average

600,000 per year over the past decade.› There are over 25 million small businesses;

the number continues to grow 2% annually.› One of every 150 adults participates in the

founding of a new firm each year.› Approximately 600,000 to 800,000 are

added each year.

Why is the American culture so conducive to entrepreneurial experiences?

What are the Myths of Entrepreneurship?




What are the characteristics of the “Creative Class”?

What are the current trends in entrepreneurship?

Are there different theoretical approaches to entrepreneurship?





Venture Financing

Social Entrepreneurship

Corporate Entrepreneurship

Trends in Entrepreneurship

Research

Entrepreneurial Cognition

Global Entrepreneurial

Movement Family

Businesses

Women and Minority

Entrepreneurs

Entrepreneurial Education


Major Research Themes:

› Venture Financing: venture capital and angel capital financing and other financing techniques strengthened in the 1990s.

› Corporate Entrepreneurship and the need for entrepreneurial cultures has drawn increased attention.

› Social Entrepreneurship has unprecedented strength within the new generation of entrepreneurs.

› Entrepreneurial Cognition is providing new insights into the psychological aspects of the entrepreneurial process.

› Women and Minority Entrepreneurs appear to face obstacles and difficulties different from those that other entrepreneurs face.

› The Global Entrepreneurial Movement is increasing.



Source: Michael H. Morris, P. Lewis, and Donald L. Sexton, “Reconceptualizing Entrepreneurship: An Input-Output Perspective,” SAM Advanced Management Journal 59, no.1 (Winter 1994): 21–31.