Entrepeneurship

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Entrepeneurship

Segment 10

Decision making

Non routine

Deals with complex issues

Routine

Deals with every day issues.

Segment 8

Sources for financing

Venture capitalists.

Partners.

Private investors.

Friends and relatives.

Personal savings.

Segment 6

Profit and loss statement

It is calculated monthly.

Shows profit.

Shows all expenses.

Shows total sales.

Segment 4

Entrepreneurial risks

Purchasing a business.

Determining spending amounts.

Cost and expenses.

Marketing a product.

Borrowing money.

Segment 2

To establish a vision

Take job opportunities to gain experience.

Imagine all of the possibilities.

Start in an area where you have interest.

Segment 9

Business ownership

Corporation

A business that is chartered and legally operates apart from its owner.

Partnership

Two or more people own a business and share liabilities, assets, and profits.

Sole proprietorship

The owner is the only person responsable for the activities of the business.

Segment 7

Franchises

Advantages

Proper equipment and materials.

Systems are ready and operable.

Product with instant name recongition.

Management expertise available.

Nationwide marketing campaign.

Aspects

Require a percentage of sales to be paid to the franchising company.

Require an initial investment.

Require legal agreement.

Segment 5

Stocks

The cost and the value of a stock indicate how well a company is doing.

Preferred stocks: Pays dicividends to shae holders, but it does not represent ownership.

Common stock: enable share holders to become owners "in common" with other share holders.

Segment 3

Motive of free enterprise

Profit

Profit is defined as what is left from a business income after the expenses of doing business have been subtracted.

Segment 1

Characteristics of an entrepeneur:

Able to simplify complex situations.

Do not like to have authority over them.

Persistent in reaching goals.

Attracted to challenges.

Have a sene of urgency.

Realistic.

Self-confident when in control.

Use hard work and vision to fill a unique need presented by potential costumers.

Use good business practices to achieve sucess.

Able to undertake challenges presented by their ideas.