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Unit 1 Introduction to Small Business Operations. The School Based Enterprise (SBE). The Badger Store is a School Based Enterprise (SBE). This specialty badger apparel and spirit store opened for business in January 2011. Frameworks 1.2. What is a School Based Enterprise?.

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slide2

The School Based Enterprise (SBE)

  • The Badger Store is a School Based Enterprise (SBE).
  • This specialty badger apparel and spirit store opened for business in January 2011.

Frameworks 1.2

what is a school based enterprise
What is a School Based Enterprise?

“School-based enterprises are effective educational tools in helping to prepare students for the transition from school to work or college. For many students, they provide the first work experience; for others, they provide an opportunity to build management, supervision and leadership skills.”

  • Source: www.schoolbasedenterprises.org

Frameworks 1.2

deca s guiding principles
DECA’s Guiding Principles

DECA prepares the next generation to be:

  • Professionally Responsible
    • DECA members are poised professionals with ethics, integrity and high standards.
  • Source: www.deca.org

Frameworks 1.3

deca s guiding principles1
DECA’s Guiding Principles

DECA prepares the next generation to be:

  • Experienced Leaders
    • DECA members are empowered through experience to provide effective leadership through goal setting, consensus building and project implementation.
  • Source: www.deca.org

Frameworks 1.3

deca video
DECA Video
  • Let's Talk About DECA Video
history and growth of deca
History and Growth of DECA
  • DECA was officially founded in 1946at the National level.

This photograph is from one of the early National DECA meetings.

slide8
DECA
  • There are over 185,000 high school DECA students in 5,000 chapters, located in the U.S., Canada, Germany, Mexico, Puerto Rico and Guam.
  • DECA helps students to develop skills for successful business careers, build self–esteem, experience leadership and practice community service.
  • Source: www.deca.org

Frameworks 1.3

the deca theme changes each year
The DECA Theme Changes Each Year

DECA Facts and Information

Our Theme for 2013-14

“DECA: Make It Count”

slide10

DECA Facts and Information

  • Arkansas DECA
    • The State DECA Advisor is Mr. Jim Brock.
    • There are 35 DECA chapters in Arkansas.
    • The State DECA Publication is called the Arkansas DECA Chronicle.

Mr. Jim Brock has also served as the President of the National DECA Board of Directors year.

international career development conference
International Career Development Conference

DECA Facts and Information

May 2-7, 2014

Atlanta, Georgia

state deca competition
State DECA Competition

DECA Facts and Information

Arkansas State Career Development Conference

Holiday Inn Convention Center

Springdale, Arkansas

March 2nd and 3rd, 2014

2014 state deca competition
2014 State DECA Competition

The Holiday Inn Convention Center

Springdale

in order to participate in any deca activities you must pay your dues
In order to participate in any DECA activities you must pay your dues!

The National dues are $8.00 per year, state dues are $5.00 per year, and local dues are $2.00.

$15

Friday, September 13

the entrepreneur
The Entrepreneur
  • An entrepreneur is someone who takes the risk to start a new business.
  • Entrepreneurship is the process of planning, creating, and managing a new business.

Fred Smith, founder of FedEx, wrote a business plan as a student at Yale University outlining his business idea for transporting packages overnight throughout the United States.

Source: Marketing, 3e, page 587

Frameworks 1.4

benefits of an entrepreneurial career
Benefits of an Entrepreneurial Career
  • Entrepreneurs often start their businesses while working for another company, this allows them to add to their income while still employed with another company.
  • Personal satisfactionfrom developing an idea into a business, providing jobs for people in the community, completing work that is interesting, and being able to control the profits of the company.

Frameworks 1.4

Source: Marketing, 3e, page 587

entrepreneurs develop small businesses
Entrepreneurs Develop Small Businesses
  • Over 600,000 small businesses (with 20 or fewer employees) are started each year.
  • Over 10% of the working population of the US is self-employed.
  • Small businesses make up 97% of all businesses.
  • Small businesses employ 52% of all non-government workers and 38% of workers in high-tech occupations.
  • Small businesses are responsible for over half of all goods and services produced.
  • Over 95% of all companies involved in exporting are small businesses.

Source: Marketing, 3e, page 590 – Figure 21-1

Frameworks 1.4

characteristics of entrepreneurs
Characteristics of Entrepreneurs
  • Focused and goal oriented.
  • Risk-taking – a willingness to risk the chance of failure in order to be successful.
  • Driven to achieve.
  • Independent minded.
  • Self-confident – believe in themselves and their abilities and expect to be successful.
  • Creativity – the ability to use imaginative skills to find unique ways to solve problems.

Source: Marketing, 3e, page 593

Frameworks 1.6

forms of business ownership
Forms of Business Ownership
  • Proprietorship – a business owned and managed by one person. A proprietor is a person who has sole ownership of a business.
  • Partnership – a business that is owned and operated by two or more people who share in the decision making and profitability of the company. A partnership agreement is a legal document that specifies the responsibilities and financial relationships of the partners.
  • Corporation – a business owned by people who purchase stock in the company. Corporations are granted a charter by the state in which they are formed.

Source: Marketing, 3e, page 603

Frameworks 1.7

corporation
Corporation

A charter is a legal document allowing the corporation to operate as if it were a person.

Source: Marketing, 3e, pages 605-606

proprietorship advantages
Proprietorship: Advantages
  • The proprietorship is the most common form of small business ownership.
  • The owner is the boss and makes all decisions.
  • The proprietor receives all profits from the operation of the business.
  • This is the most flexible form of ownership.
  • This is the easiest form of ownership to create.

Source: Marketing, 3e, page 604

Frameworks 1.7.1

proprietorship disadvantages
Proprietorship: Disadvantages
  • The proprietor may not have all the skills needed to run the business.
  • Most new businesses require a lot of money to start, this could be more than one owner can provide.
  • The risk can be great and must be carried by the proprietor, includes personal liability.
  • The business will not be able to continue if the owner becomes ill or dies.

Source: Marketing, 3e, page 604

Frameworks 1.7.1

partnership advantages
Partnership: Advantages
  • Partners are able to combine their knowledge, skills, and abilities.
  • Partners usually will have greater financial resources to bring to the business.
  • If one partner decides to leave the business, the business does not have to close.

Source: Marketing, 3e, page 605

Frameworks 1.7.1

partnership disadvantages
Partnership: Disadvantages
  • Disagreements on important decisions can occur among partners.
  • All partners are responsible for any actions and decisions made by another partner.
  • Profits, as well as losses, are shared by the partners.

Source: Marketing, 3e, page 605

Frameworks 1.7.1

corporation advantages
Corporation: Advantages
  • Offers the owners limited liability.
  • The business can exist indefinitely, beyond the life of the owners.
  • Ownership is easy to transfer by the selling of stock.

Source: Marketing, 3e, page 606

Frameworks 1.7.1

corporation disadvantages
Corporation: Disadvantages
  • Corporations face more government rules and regulations than other forms of business ownership.
  • Stockholders tend to be focused only profits.
  • Individuals tend to avoid responsibility for the actions of the corporation.
  • Corporations are usually taxed at a higher rate than other forms of ownership.

Source: Marketing, 3e, page 606

Frameworks 1.7.1

corporation1
Corporation

The world’s largest retailer and private employer.

corporation2
Corporation

FedEx Express was founded in 1971 by Fred Smith. The corporation was created in 1998 as FDX Corp. and became FedEx Corp. in January 2000. The company handles more than 6 million shipments daily. FedEx has more than 250,000 employees.

developing a business plan
Developing a Business Plan
  • A business plan is a written document prepared to guide the development and operation of a new business.
    • The sections of a business plan usually include:
      • An executive summary – which provides an overview of the business concept and the important points covered in the business plan.
      • Description of the proposed business, product/service, community, potential target market, organizational structure, and owners.
      • Description of the proposed marketing activities.
      • Description of the proposed financial plans.

Source: Marketing, 3e, page 609

Frameworks 1.8