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REWARDS AND DRAWBACKS
OF BEING ENTERPRISING
Business Level 10 ADVETI STSAndrei Mikhailov, STS Ajman
BEING ENTERPRISING
Question: What does it mean to be enterprising?
Using i-pads, find the Arabic equivalent of the word “enterprising”
From Business dictionary: “Good at thinking of
new business ideas or projects, and making them successful”
Andrei Mikhailov, STS Ajman
BEING ENTERPRISING
From Oxford dictionary:“Having or showing initiative
and resourcefulness”
From Merriam Webster dictionary:“Marked by an independent
energetic spirit and by readiness to act”
Andrei Mikhailov, STS Ajman
ENTERPRISING PEOPLE MADE THIS HAPPEN
Andrei Mikhailov, STS Ajman
REWARDS FOR BEING ENTERPRISING: POTENTIAL TO MAKE LOTS OF MONEY
Some examples of businesses that have good earning potential: look at costs and profitability
Real estate development
Consulting
Selling goods and services online
Andrei Mikhailov, STS Ajman
REWARDS FOR BEINGENTERPRISING
Richard Branson, the founder of VIRGIN Group companies, created a space travel company for tourists VIRGIN GALACTIC.
During 2014, Virgin aims to use a total of five space planes to start its passenger-carrying service
Andrei Mikhailov, STS Ajman
REWARDS FOR BEING ENTERPRISING
Tickets are now being sold for the sum of $250,000 for the first 1,000 travellers.
Mr Branson is saying it will be much cheaper in 10 years’ time
Andrei Mikhailov, STS Ajman
DISCUSSION
Do you think it is a good business idea? Explain your point of view
When do you think this idea will start bringing good profits for the company? Don’t forget the costs!
Apart from the profit, are there any other rewards Mr Branson is hoping to get?
Andrei Mikhailov, STS Ajman
REWARDS FOR BEING ENTERPRISING
It can be very satisfying and self-fulfilling!
Andrei Mikhailov, STS Ajman
REWARDS FOR BEING ENTERPRISING
Watch this video and answer the questions: http://www.youtube.com/watch?v=X7eeBMf6BL8• Is the boss right in
principle?
• What do you think of the way he communicates with his employees?
• Would you like to have a boss like this? Andrei Mikhailov,
STS Ajman
REWARDS FOR BEING ENTERPRISING
Being your own boss, independent, free to make your own decisions
Andrei Mikhailov, STS Ajman
DRAWBACKS: RISK TAKING
New businesses operating in the USA within 4 years after opening
Source: Entrepreneur Weekly, Small Business Development Center, Bradley Univ, University of Tennessee Research, 2013 Andrei Mikhailov,
STS Ajman
DISCUSSION
Why do you think so many new businesses are failing?
Andrei Mikhailov, STS Ajman
DRAWBACKS
Responsibility: you are responsible for success or failure of the business
Limited capacity – you have to rely mostly on yourself for making all decisions, small and big
Andrei Mikhailov, STS Ajman
BIG QUESTION: SHALL I START MY OWN BUSINESS?
As in everything, this coin has two sides: head and tail, positive and negative, good and bad.
In the end, it is your choice! If, at some point of your life, you feel a strong desire to start your own business, then do it, and do your best to succeed!
Andrei Mikhailov, STS Ajman
RECAP
What does it mean to be enterprising?
Name two rewards of having your own business
Name two drawbacks of having your own business
Andrei Mikhailov, STS Ajman
