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ENTREPRENEURSHIP, 4/e Chapter 1: Entrepreneurship Today

ENTREPRENEURSHIP, 4/e Chapter 1: Entrepreneurship Today. Peggy A. Lambing and Charles R. Kuehl PowerPoint presentation created by Peggy Lambing. Learning Objectives. To become aware of the way in which entrepreneurship emerged as a leading economic force during the 1980s and the 1990s

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ENTREPRENEURSHIP, 4/e Chapter 1: Entrepreneurship Today

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  1. ENTREPRENEURSHIP, 4/eChapter 1: Entrepreneurship Today Peggy A. Lambing and Charles R. Kuehl PowerPoint presentation created by Peggy Lambing

  2. Learning Objectives • To become aware of the way in which entrepreneurship emerged as a leading economic force during the 1980s and the 1990s • To appreciate the nature of the U.S. economy is undergoing important changes as we start the new century • To see that countries worldwide have discovered entrepreneurship as a source of economic vitality • To comprehend that small business has what it takes to compete successfully with much larger organizations

  3. Industry Structure • 1955—focus on big business • 1955—one small business for every 38 people • 2000—one small business for every 12.7 people

  4. Increasing Number of Small Businesses • Foreign competitors disrupting big corporations • Start of deregulation

  5. Increase in Small Businesses YearBusinesses Per Person 1955 1/381965 1/291975 1/261985 1/201998 1/162000 1/12.7

  6. Downsizing • Firms systematically and substantially reduce the number of people they employ to achieve a reduction in cost • Organizational survival or top-management greed?

  7. Societal Change • End of jobs? • Post-industrial society: a country where large-scale businesses are no longer as important as they were

  8. Consequences for the Individual • Unemployment or underemployment • Uncertainties and pressures of job insecurity • Wave of interest in entrepreneurship worldwide

  9. Entrepreneurship in a Changing Environment • Changes in Markets • Outsourcing • Virtual organizations • Market fragmentation

  10. New Markets • Green markets • Market place • Market space

  11. Competitive Advantages of Small Business • Allows a business to compete effectively • Personal relationship with customer • Ability to innovate • Flexibility

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