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Entrepreneurship.

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MSBCS-BCSIII-7: The students will examine basics of entrepreneurship.a) Define entrepreneurship (National Standards for NBEA, pg. 70) and steps needed to start and maintain a business opportunity.b) Distinguish the role of the entrepreneur in business.c) Identify necessary traits of a successful entrepreneur.d) Describe the difference between an employer and employee.e) Differentiate between a manager and an entrepreneur.

entrepreneur
Entrepreneur
  • A person who organizes and manages any enterprise, esp. a business, usually with considerable initiative and risk
u nit vocabulary
Unit vocabulary
  • Entrepreneur
  • Entrepreneurship
  • Employee
  • Employer
  • Manager
distinguish the role of the entrepreneur in business
Distinguish the role of the entrepreneur in business.
  • Entrepreneurs are innovators
  • Entrepreneurs provide choice
  • Entrepreneurs provide jobs
  • Entrepreneurs help the economy grow
identify necessary traits of a successful entrepreneur
Identify necessary traits of a successful entrepreneur
  • Entrepreneurs are careful about money.
  • Entrepreneurs are competitive by nature.
  • Entrepreneurs believe in the old saying, "the early bird gets the worm."
  • Entrepreneurs are risk-takers who trust their hunches and act on them.
  • They are always thinking of new ideas and new ways to make money or increase their business.
more traits of a successful entrepreneur
More traits of a successful entrepreneur
  • Entrepreneurs are usually loners rather than joiners
  • Entrepreneurs are usually honorable people who do business based on a handshake or a promise.
  • Entrepreneurs do set aside time for leisure activities and family
describe the difference between an employer and employee
Describe the difference between an employer and employee.
  • An employee is any person hired by an employer to do a specific “job.”
  • An employer is a person or institution that hires employees or workers.
differentiate between a manager and an entrepreneur
Differentiate between a manager and an entrepreneur.

Entrepreneur

Manager

  • Desire for Control
  • One-Man Show
  • Creativity - Innovation
  • Rapid Reaction
  • Informal, Flexible
  • Intuitive
  • In terms of "Vision"
  • A By-Product
  • Calculated Risks
  • "Entrepreneurial Culture"
  • Delegation of Authority
  • Management Team
  • Establish and Preserve the Status Quote
  • Strategic Planning
  • Organized
  • Collect Information and Seek Advice
  • In Commercial Terms
  • Measure of Success
  • Avoidance of Risks
  • "Management Culture"
differentiate between a manager and an entrepreneur1
Differentiate between a manager and an entrepreneur.
  • Manager- a person who has control or direction of an institution, business, etc
  • Entrepreneur- a person who organizes and manages any enterprise, esp. a business, usually with considerable initiative and risk
  • Entrepreneur is the one who initiate and get into business with some investments and risk, where as manager is one who manages the business and get paid for the same.