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principals of entrepreneurship

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kyle filyaw

on 17 December 2013

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Transcript of principals of entrepreneurship

principals of entrepreneurship

kyle filyaw

job titles: question commander
quiet captain

Days 1,2,and 3
day 2-
EQ: you will be compensated a six figure income! explain what skills you are bringing to the table and why you are confident you will make a positive difference in this company?
AW: i would bring the strong leadership type skills to the table that keep a business well put together and functioning properly.
Days 4,5 and 6
day 5
august 23 2013
EQ: compare and contrast two things learned this week in class that you hadn't known before? explain how it can prepare you for the workplace?
AW:learned how to use prezi which makes good presentations of data.
days 7,8 and 9
day 7
date: august 27 2013
EQ: name one historical entrepreneur and describe what he or she did.
AW: steve jobs is one of my favorite because he created the famous company of apple which is used everyday and is a multi million dollar company now. steve jobs never finished high school but still managed to make a succesful business.

days 10, 11 and 12
day 10
EQ: what lessons / skills was acquired this week that broaden your knowledge of becoming a successful entrepreneur?
AW: i learned some new definitions and skills this week that will eventually help me in the actual work place. i am learning more about organization and what it takes to be an entrepreneur.
day 1-
EQ: tell me in detail why are you taking this class?
AW: so that one day i may be able to run my own business
EQ:name three important facts from the power point on school policies and procedures and explain why you agree and/or disagree.
AW: cell phones- agree -because cell phones are distracting no matter what time of school. dress code-agree-because students need to dress appropriately for a work type environment or as i say dress for success.
day 4
august 22 2013
EQ: how important is a "business mind" and why is it necessary to dress the mind before dressing the physical body? explain.
AW: because dressing the mind is much more important, your mind holds all of the knowledge you have learned and will learn and with out your mind dressed right you will not be prepared for the day.
day 6
august 26 2013
EQ: why are emergency procedures put in place and what could happen if they were neglected?
AW: emergency procedures are put in place to protect you during an emergency situation and if they are neglected you may risk an accident or injury in the situation.
day 8
date: august 28, 2013
EQ: in absence of your leader were you uncomfortable? explain and give details of your perspective.
AW: i was still actually pretty comfortable because i feel like i can work with anyone who is a leader new or not. i just had to look at the situation as a challenge that may occur in an actual work place and go along with the instructions given.
day 12
EQ: what are the rewards and risks of having your own business?
AW: the risk of having your own buisiness is the option that it might fail and you would lose every thing and the reward is that if it is sucessful you might have a real good buisiness that will shoot you to the top.
day 11
EQ: how are entrepreneurs different from employees? explain with details.
AW: entrepreneurs are looking to create businesses and start there own carrer where as an employee is looking to work for someone else.
job titles: question commander
quiet captain
#1 entrepreneurs
#2 entrepreneurship
#3 employees
#4 self assesment
#5 aptitude
#6 trade shows
personal definition
#1 a person who creates there own business.
#2 the process of owning your own business.
#3 people who work for you that are paid.
#4taking a look at your self and who you are.
#5 to learn a job.
#6 where you trade items.
real definition
#1 people who own, operate, and take the risk of a business venture.
#2 the process of running a business of ones own.
#3 people who work for someone else.
#4 an evaluation of your strengths and weaknesses.
#5 the ability to learn a particular kind of job.
#6 special meetingS where companies display their products.
#1 buisiness person
#2 venture capital
#3 hiredhand
#4 review
#5 one job
#6 market
days 13, 14 and 15
day 13
EQ: what are some examples of elastic and inelastic goods and how do they differ?
AW: Elastic demand is a type of demand that will rise or fall depending on the price of the good. For example, candy bars are an elastic demand.
Inelastic demand is the opposite. People will buy goods with an inelastic demand no matter what the price is. A good example of this would be gas.
day 14
EQ: why shouldn't discontinuances be counted as business failure?
AW: because discontinuances are just a malfunction or problem with a product that could be used as a lesson in trial and error to make the product better.
day 15
EQ: leadership is the power to provoke the rights in other people. explain exactly what this means and how can this come about?
AW: this means that being a leader gives you athority to be the boss and say what goes in a way you make the rules for other people. this can come about by starting a career and showing good leadership skills and being promoted to the boss of your company.
days 16, 17 and 18
day 16
EQ: does success in anything come easy or do you have to work for it? explain, give and example.
AW: success never comes easy you always have to work for it, such as in a small business if you work hard to make the business great than it will be great but if you put little work in most likely it wont work out. basically you get out what you put into your business.
day 17
EQ: how is entrepreneurship today diffenrent from entrepreneurship during colonial times?
AW: the difference i would think would be the difference in the types of bussinesses or products that were popular and made a good profit. today it is more moderen with technology and trends of the newest generation.
day 18
EQ: what impact do you think entrepreneurs have on the economy and current business climate? is it positive or negative? explain.
AW: entrepreneurs have a big impact on the economy because they provide us with new businesses which provide us with goods and sevices which are necessary for the economy to strive. i think it is positive as far as bringing new products and services.
days 19, 20 and 21
day 21
EQ: when there are many choices in the marketplace, why do customers demand more from businesses? give an examle.
AW: they demand more because they know they can go to someone elses buisiness if the buisiness they are at has bad prices or low quality products. an examle is walmart because they match the prices of other buisinesses if there price is lower which is unique.
day 20
EQ: ellen greenberg loves to make and fly kites. ellen is planning to open a shop selling custom made kites. she asks for your advice to help her set financial goals. ellen estimates that after expences, she can make a $15 profit on each kite she sells. if her annual income goal is $15,450 how many kites will she have to sell? is this goal realistic? why or why not?
AW: 1,030 kites she would have to sell to reach her goal which is not to realistic because you must pay employees and costs of the store to stay open through all of that she would not be able to support her self on only $300 a week.
day 19
EQ: take one of the letters from the word "pride" and explain how this word has helped you become a better student/ friend /person.
AW: integrity- it has given me a reason to be a better person and basically a definition for being a better person in and out side of a business envornment.
days 22, 23 and 24
day 22
EQ: what are the components of a new venture organization? explain the importance of each.
AW: the components are to make sure that the business is something you will enjoy and something that is going to be sucessful in the market place today.
day 24
EQ: how have environmental factors affected a small business in your community?
AW: environmental factor such as hurricane katrina affect many businesses every year by destroying businesses or the community around the business which devistates a buissenes becoming succesful.
days 25, 26 and 27
day 25
EQ: a man is his own easiest dupe, for what he wishes to be true he generally believes to be true. define "dupe" and explain what this quote means.
day 26
EQ: create an "EQ" and a complete sentence using your TEAM acronym LETTER FOUND in "pride." be sure it relates to this weeks lesson.
my eq: what have you learned so far over the course of the class?
AW: i have learned what it takes to be a succesful entreprenuer and the risks that come about when trying to create your own business.
acronym: integrity- to have a succesful business you need to put alot of integrity forward and strive for the goal you picture for your business.
day 27
EQ: what do you consider to be the greatest risk of starting your own business? why? explain.
AW: the greatest risk is financials both in your investment you make toward a business and the profit you hope to make. if you dont make the money you will posibly lose it all.
if you can read this than you have good sight.

day 28, 29 and 30
day 28
EQ: why is it important to use a customers name when you meet? explain. and how do you calculate an average?
AW: it is important because you will seem more business like and professional if you use their name and they will feel important like you care about the customer. to calculate the average you add up all of the numbers then divide the sum by the amount of numbers.
day 29
EQ: you have an eight page "review packet" of c-2, how might you strategize your "north and south" team in completing this task... when the packet is due at the end of this period today. explain. your team strategy first on your "EQ" then come pick up a packet w/2 books and begin.
AW: we will split problems between the team and get the problems done fast and correctly asking questions as we need.
day 30
EQ: how can becoming certified in photoshop, flash, media communication, etc. better prepare you for the work force? explain.
AW: you will have a better understanding of some useful programs that may be helpful in the future such as presentations and such.
day 31
EQ: must the six steps in the problem solving odel be performed in the order described? why or why not?
AW: you must do them in order because i feel the second can not properly be completed with out the first one.

day 32
EQ: explain how each of the following foundational skills: math, communications, and decision making, can help you be a successful entrepreneur. explain each skill seperately.
AW: math can help you calculate your profit and the amount of money needed. communication will help you better communicate and connect with the customer. decision making will help you decide what is best for your company by letting you make smarter decisions.
create a sentece
days 31, 32 and 33
day 34
EQ: why is attendence important?
days 34, 35 and 36
day 35
EQ: how important is it to think, plan, and dream?
AW: it is important to think because if you do not think you may make bad decisions. if you dont plan you will not be prepared. if you dont dream you will have no goal to strive for.
anchor question 1- when a character does something that contrasts with what you'd expect or contradicts his earlier acts or statements, stop and ask, why is the character doing that?
anchor question 2- when a character realizes, understands, or finally figures out something, stop and ask yourself, how might this change things?
anchor question 3- when a character asks herself a very difficult question, stop and ask yourself, what does this question make me wonder about?
anchor question 4- when a character takes the main character aside and offers serious advice, stop and ask, whats the life lesson and how might it affect the character?
anchor question 5- when you notice a word, phrase or situation mentioned over and over stop and ask yourself, why does this keep happening again and again?
anchor question 6- when the author interrupts the action to tell you about a memory, stop and ask yourself, why might this memory be important?

day 36
EQ: what are some ways to exercise your creativity and apply it to your new business?
AW: use brainstorming and use creative ideas with your group of workers and then determine how they could take place in the improvement of your business.
day 37
EQ: what is delaying you from completing project #2?
AW: we have to determine the best possible look to grab the attention of our customers and other bussines opportunities.
days 37, 38 and 39
day 38
EQ: why are the steps of the problem solving method important?
AW: to help you solve problems more efficiently and smarter.
day 40
EQ: look in your community for a need that is not being met. list at least three services and products related to this need that offer a business opportunity and explain why it is a need.
AW: a need in my community that is not being met is the option of stuff to do for young adults. some services that could help that are new places being built such as arcades, bowling, and movies. some products could be new items made just for teens that catches their interest. this is a need because it will keep kids out of drugs.
day 42
EQ: given $200 what type fo outfit would you purchase to wear on an interview?
AW: i would buy myself a nice suit since i do not own one or have the money currently to buy one. suits make you look professional and ready to work.
day 43
EQ: what is a monopoly?
day 46
EQ: why is redistribution of income a benefit to society? and do you agree that income should be redistributed? why or why not?
day 47
EQ: you are planning to start a business as a street vendor selling hot dogs. what government regulations will be imposed on your business? how will each of these regulations affect your business?
day 48
EQ: what are demographics and how do they affect your business?
AW: they let you know what people think about your business such as your service or how you compare to communities around you.
days 46, 47 and 48
day 39
EQ: how does a market economy differ from a command economy?
AW: A market economy (also called a free market economy, free enterprise economy) is an economic system in which the production and distribution of goods and services takes place through the mechanism of free markets guided by a free price system .
On the other hand, a command economy (also known as planned economy) is an economic system in which the state or government controls the factors of production and makes all decisions about their use and about the distribution of income.
days 40, 41 and 42
day 41
days 43, 44 and 45
day 44
day 45
day 23
day 9
days 49, 50 and 51
day 49
day 50
EQ: opportunity cost measures the advantages of choosing one investment over another. do you agree or disagree? explain with details.
AW: yes that is what opportunity cost is all about, it has to do with choosing the best option according to price and such.
day 51
days 52, 53 and 54
day 52
day 53
day 54
EQ: what impact has this strategic partnership had on the rest of the printing industry? explain.
AW: the rest of the printing businesses will get less business if they cannot match the competition and be open 247 and have the same technology. they will eventually go out of business if they keep getting less business.
days 55, 56 and 57
day 55
day 56
EQ: how might you benefit from this example?
AW: that if all else fails you have the option to create your own business.
day 57
day 58
EQ: have you ever wanted something, had the money to buy it, but couldnt find the item? why couldnt you find it? and what would you do?
AW: yes i have this problem all the time with cars i work on i have the money to replace the engine but cant find the right one or one that could work and if so it is in another state. the reason i have trouble finding it is because of the year of my car they no longer manufacture the engine. have to find the opportunity cost or next best option.
days 58, 59 and 60
day 60
EQ: does the company have a patent on the product and when was the product introduced to the market? explain.
AW: union pacific is another example of amtrak they use trains to transportate things we use everyday such as coal and other economic products. they do have a patent on there product but im not sure when it was introduced because i know they were around a long time ago.
day 61
EQ: what are some of the advantages and disadvantages of entering a family business? explain.
AW: you will get hired no problem because you are related, and you can most likely get manager positions without having to work for it. this means good pay.
day 62
EQ: what steps should you take when purchasing a business? explain the importance of at least one.
AW: decide if the business will be sucessful based on if people want or need the product. then you must also determine the location where you want to place your business. then determine how much money you will make and if it is enough to stay open.
day 67
EQ: why do many entrepreneurs prefer to start new businesses rather than purchase existing business for franchise?
AW: because to anyone using your own ideas is the best and the thought of your ideas becoming a success is what everyone wants. they would rather see there own business prosper than an existing one.
day 69
EQ: why do owners of sole proprietorships face more risks than owners of partnerships or corporations?
AW: because sole proprietorships start off with no people or anything they have to do the work all by them selves.
day 71
EQ: why should you understand the culture of the people with whom you do business? why or why not? explain.
AW: because different cultures have different ways of going about things such as greetings and how business is done.
day 70
day 72
day 73
EQ: what world region do you think holds the greatest business opportunity? explain.
day 76
EQ: what kinds of decisions need to be made when starting a new business?
AW: you need to decide if your product is going to be of need and will make you money, and then you need to find your "audience" at the product apeals to. you also need to find a good location because location is key and you need to manage your expenses for what you need.
days 61, 62 and 63
days 64, 65 and 66
days 67, 68 and 69
days 70, 71 and 72
days 73, 74 and 75
days 76, 77 and 78
day 33
EQ: why is attendance important?
AW: attendance is important because it shows that you are in school getting the knowledge you need in life.
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