Business Management Chapter 1.2 Glencoe Business Management Entrepreneurship Business Management Chapter 1.2 Glencoe Business Management

Name the Company Michael Dell Sam Walton Steve Jobs Tom Anderson Philip Knight Wally Amos Henry Ford Rose Blumkin Mark Cuban Russell Simmons Dave Thomas Bill Gates Ray Kroc Walt Disney

Entrepreneurship Entrepreneur – One who organizes, manages, and assumes the risks of starting a business Reasons for increase in small businesses: Government Encouragement Easy to Start Lower Capital Control Your Own Fate

Franchises Franchise – legal agreement between a parent company and distributor to sell a product Franchiser – parent company Franchisee – distributor of the product or service Examples – Budget Rent-a-Car, Denny’s, Goodyear, Howard Johnson, Orange Julius, Pizza Hut, Sbarro, Inc., TCBY, Wendy’s

Ownership Obligations Risks Financial Economy Time Commitment Disaster Community Risks Economy Disaster Fraud Inexperience Poor Strategy

Intrapreneurship An entrepreneurial entity working within an established business Employee given funds and freedom to create a special unit or department for development Usually found in companies that place a high value on innovation, such as IBM, 3M, Apple, etc.

Assignment Choose an entrepreneur, research his/her history, and enter the information into the PowerPoint template provided