BBI 2O Unit Two

 DAY 1

What is:  An entrepreneur –  Entrepreneurship –

 Identify the famous entrepreneurs…

Mark Zuckerberg

Ben Cohen and Jerry Greenfield

Steve Jobs

William & Alfred Billes

Christine Magee

Guy Laliberte & Guy Caron

 Entrepreneurs bring together various resources in order to pursue a venture that addresses some need, want, or problem in an innovative way;  Entrepreneurs have the ability to see what others have not seen and the courage and skill to act on the opportunities perceived;  Entrepreneurs carefully weigh “opportunities” against “risk” before acting

 Venture:  A business undertaking involving some risk, established with the expectation of gain or profit.  Opportunity:  Arises from a change or a trend that has resulted in the generation of a problem, need, or want.  Risk:  The chance of possible loss of money or reputation that entrepreneurs take when starting a new venture.

 Create new products/services to provide convenience.  Create competition that lowers price. Eg. Game consoles  Find new ways of making products available. Eg. On-line groceries  Create jobs (Multiplier effect)  Increase in # of products produced in our economy  economic growth. Increase in Canada’s GNP  Create new opportunities.  Provide a spirit of adventure. Eg. Cirque du Soleil  Help communities to progress and grow.  Help Canada compete internationally and be recognized in the global economy (globalization). Eg. The space arm.

BENEFITSDRAWBACKS

 You are your own boss and have control over your future  Choices (e.g., you set your hours, you can choose your employees, etc.) - There are more opportunities for you to make decisions.  Opportunities to fully utilize your talents, skills, knowledge, and creativity  Financial rewards (e.g., profit, income, and tax advantages)  Job security (You create your own employment.)  Variety in your work routine  Self-satisfaction, personal achievement, and recognition

 Chance of business failure  Time-consuming (can work more hours)  Income may not be as secure or regular as it would be working for someone else  Pressure to succeed  Stress  Financial risk  Sacrifices (e.g., may not have us much family time, may have to make financial sacrifices, etc., in order to succeed)  Responsibility (There are many different responsibilities and roles you will need to assume.)

ENTREPRENEURIAL CHARACTERISTICS  All entrepreneurs possess similar characteristics

ENTREPRENEUR VISIONARY ABLE TO MANAGE RISK RESOURCEFUL MOTIVATED HARD WORKING PERCEPTIVE SELF CONFIDENT ABLE TO GET ALONG WITH OTHERS INDEPENDENT FLEXIBLEOPTIMISTIC GOAL ORIENTED CREATIVE

 In groups of 3, draw an entrepreneurial person.  You will identify different entrepreneurial characteristics through the features of the body (see example).  The more details the better.  Draw your person on the chart paper provided.  Each group will present their entrepreneur to the class.

 Read the article about the famous entrepreneurs and answer the questions

 DAY 2

 Having a skill means you have the ability to do something specific.  Carpenter -> woodworking skills  Chef -> cooking skills  It is easier to learn a skill than it is to develop a characteristic  To be successful, entrepreneurs need a variety of skills

Interpersonal Skills Critical-thinking Skills Practical Skills Creative-thinking Skills Are essential for an entrepreneur to be successfull.

Interpersonal Skills Ability to: Talk to others Listen and understand what others are saying Motivate Encourage Negotiating and resolving conflicts Communication with suppliers Maintain positive customer relationships

Critical-thinking Skills Creative-thinking Skills Ability to: Solve problems by looking at a variety of solutions Make a decision and act on it Set goals Plan out how to achieve the goal and act out the plan Generate ideas Identify opportunities

Practical Skills This is the ability to use special tools designed for a specific job.

 What characteristics and skills do you possess?  Complete the skills inventory and summarize your entrepreneurial strengths and weaknesses

 DAY 3

 In groups of 4 decide on a new business that you would start in Georgetown  Think About:  Who you would target?  Where would you put it?  Why is this needed in Georgetown?  Who would your competitors be?  Why would this be successful?

 Presentation: Fuse the Flavour – Drew and Jordan  Dragon’s Den – what are the characteristics and skills that you can identify from the entrepreneurs in this episode?

 DAY 4 – Invention and Innovation

 What do these words mean?

 An invention is a product or process that does something that has never been done before.  Some Canadian inventions:  Basketball – James Naismith (1892)  Canadarm – SPAR Aerospace Limited (1981)  Goalie mask – Jacques Plante (1960)  Insulin – Dr. Banting and Dr. Best (1921)  Zipper – Gideon Sundback (1913)  Snowmobile – J.A. Bombardier (1922)  Lacrosse – Canada’s Aboriginal peoples

 Innovation means making a change to improve a product that already exists.  It can be a change in the way a product is:  used  packaged  marketed  distributed  designed  manufactured

 When was the last time you used Scotch Tape?  When it was first introduced in 1948, it was suggested it be used for:  Cover clothespins to prevent clothing snags  Prevent plaster cracks when hanging pictures  Cover bandages  Attach coins to cards sent in the mail  Smooth the ends of curtain rods  Fix tears in plastic aprons  Wrap household garbage

 Entrepreneurs can be both inventors and innovators  It is usually easier for innovators to be entrepreneurs, because inventors need to start from scratch and innovators can build on what already exists.

 Examine the following photos and determine whether each item is an invention or an innovation

 What are some of the challenges associated with being an inventor?  Capital  Originality of idea  Time to develop  Protecting ideas  Patents/Copyrights  Getting idea to market

 What are some of the challenges associated with being an innovator?  Capital  Ensuring idea is original  Copyright/Patents  Time to market  Demonstrating to public a new need or want  Marketing the features of the product

 Investigating local entrepreneurs – introduction  see assignment instructions

 DAY 5 & 6 Computer lab Assignment: Investigating Local Entrepreneurs  DAY 7 - Presentations

 DAY 8 – Entrepreneurship Jeopardy  DAY 9 – Entrepreneurship Quiz

 Identify the characteristics and the skills that the entrepreneurs possess  Is the product an invention or an innovation? Explain.