EntrepreneurshiEntrepreneurshipp

Business Management Business Management Chapter 1.2Chapter 1.2

Glencoe Business Glencoe Business ManagementManagement

Name the CompanyName the Company

1.1. Michael DellMichael Dell

2.2. Sam WaltonSam Walton

3.3. Steve JobsSteve Jobs

4.4. Tom AndersonTom Anderson

5.5. Philip KnightPhilip Knight

6.6. Wally AmosWally Amos

7.7. Henry FordHenry Ford

8.8. Rose BlumkinRose Blumkin

9.9. Mark CubanMark Cuban

10.10. Russell Russell SimmonsSimmons

11.11. Dave ThomasDave Thomas

12.12. Bill GatesBill Gates

13.13. Ray KrocRay Kroc

14.14. Walt DisneyWalt Disney

EntrepreneurshipEntrepreneurship

Entrepreneur – One who organizes, Entrepreneur – One who organizes, manages, and assumes the risks of manages, and assumes the risks of starting a businessstarting a business

Reasons for increase in small businesses:Reasons for increase in small businesses: Government EncouragementGovernment Encouragement Easy to StartEasy to Start Lower CapitalLower Capital Control Your Own FateControl Your Own Fate

OwnershipOwnership

RisksRisks EconomyEconomy DisasterDisaster FraudFraud InexperienceInexperience Poor StrategyPoor Strategy

ObligationsObligations FinancialFinancial Time CommitmentTime Commitment CommunityCommunity

FranchisesFranchises Franchise – legal agreement between a parent Franchise – legal agreement between a parent

company and distributor to sell a productcompany and distributor to sell a product Franchiser – parent companyFranchiser – parent company Franchisee – distributor of the product or Franchisee – distributor of the product or

serviceservice Examples – Budget Rent-a-Car, Denny’s, Examples – Budget Rent-a-Car, Denny’s,

Goodyear, Howard Johnson, Orange Julius, Goodyear, Howard Johnson, Orange Julius, Pizza Hut, Sbarro, Inc., TCBY, Wendy’sPizza Hut, Sbarro, Inc., TCBY, Wendy’s

AssignmentAssignment

Choose an entrepreneur, research Choose an entrepreneur, research his/her history, and enter the his/her history, and enter the information into the PowerPoint information into the PowerPoint template providedtemplate provided