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A business
A business
A business is an organization that provides products and services, usually to make money.
A person who works in a business owned by someone else is an employee of that business.
Employees may risk losing a job if they do not perform their work well, but they are paid for their work.
Someone who creates and runs a business is called an entrepreneur.
To be entrepreneurial means to think or act like an entrepreneur.
An entrepreneur makes an investment of money, time, and energy in the hope of receiving greater rewards, or benefits.
Because entrepreneurs work for themselves, they risk more than employees. They risk not being able to pay their employees or themselves if business is "slow".
The rewards employees and entrepreneurs get from their work are also different.
As business owners, entrepreneurs are in control of the money made by the business. They also have the final say in all business decisions.
Carla Hernandez started a fruit smoothie shop. She invested money, time, and effort to start the business. One of her employees created
a new smoothie that Carla put on the menu. By doing so,
Carla risked the money spent on ingredients and she risked a
drop in sales if customers didn't like the new item. But it was
a hit. Sales increased. Her employee received a small raise as
a reward, but Carla was the one who benefited the most
because she owned the business.
Choose a partner. Together, try to name as many businesses as you can for each letter of the alphabet in 5 minutes.
When people think of business, they tend to focus on large companies such as Mercedes, Apple, and Nike. In reality, more businesses are considered small than big.
A small business is defined as a business having fewer than 100 employees (fewer than 500 employees in the case of manufacturing companies.
****To the best of your knowledge, identify in your list which businesses are considered small and which one are considered big.
Over 600,000 new businesses are started in the United Stat...
Over 600,000 new businesses are started in the United States every year-and about 500,000 close.
An entrepreneur's goal affect how large a business becomes.
For example, suppose someone starts a neighborhood restaurant. The entrepreneur may not want to expand the business to include more than one restaurant if personal and financial needs are being met.
Not everyone is interested in increasing the size of their business.
Sometimes, a business may become so successful that it grows beyond the wildest expectations of its owners.
-Making your own rules: own boss, what type of schedule, where you work, how & when you get paid, final word
-When you have a creative idea, you have the power to put that idea into action
-Doing work you enjoy
-Creating greater wealth
-Helping your community
-Potential business failure.
-Unexpected obstacles.
-Financial insecurity.
-Long hours and hard work.
Here is a brief list of examples of entrepreneurs who have changed the world in one way or another.
William Harley & Arthur Davidson
Ingvar Kamprad
Your presentation should include 6 answers:
-Title page
-Who are they?
-What was their business idea?
- What 5 entrepreneurial traits do they have?
-Were they instantly successful? Explain.
-What challenges did they face? Explain.
-What did they achieve?