Copyright © 2007 South-Western. All rights reserved. Chapter 6 Entrepreneurship and Business Planning.

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Presentation transcript:

Copyright © 2007 South-Western. All rights reserved. Chapter 6 Entrepreneurship and Business Planning

Entrepreneurshi p and Business Planning Portion of Graphic from pg 192 will go here Copyright © 2007 South-Western. All rights reserved. Learning Objectives Entrepreneurship & Business Planning RisksCreating Business Plan Enter Market Competing

Entrepreneurshi p and Business Planning Portion of Graphic from pg 192 will go here Copyright © 2007 South-Western. All rights reserved. The Key Decisions in Running a Business

Entrepreneurshi p and Business Planning Portion of Graphic from pg 192 will go here Copyright © 2007 South-Western. All rights reserved. New Business - Resources Creating Enter Market Competing Business Plan Risks SBA Yahoo ! American Express

Entrepreneurshi p and Business Planning Portion of Graphic from pg 192 will go here Copyright © 2007 South-Western. All rights reserved. Entrepreneurship Creating Enter Market Competing Business Plan Risks DisadvantagesAdvantages - Profit Potential - Your Own Boss - Direct Rewards - Loss Potential - Accountability - Failure Possibility

Entrepreneurshi p and Business Planning Portion of Graphic from pg 192 will go here Copyright © 2007 South-Western. All rights reserved. Demand Creating Enter Market Competing Business Plan Risks Product Markets Change Flexibility

Entrepreneurshi p and Business Planning Portion of Graphic from pg 192 will go here Copyright © 2007 South-Western. All rights reserved. Competition Creating Enter Market Competing Business Plan Risks

Entrepreneurshi p and Business Planning Portion of Graphic from pg 192 will go here Copyright © 2007 South-Western. All rights reserved. Segments Creating Enter Market Competing Business Plan Risks

Entrepreneurshi p and Business Planning Portion of Graphic from pg 192 will go here Copyright © 2007 South-Western. All rights reserved. Labor & Regulations Creating Enter Market Competing Business Plan Risks Labor Costs Unions Regulations

Entrepreneurshi p and Business Planning Portion of Graphic from pg 192 will go here Copyright © 2007 South-Western. All rights reserved. Competitive Advantage Creating Enter Market Competing Business Plan Risks Efficiency Higher Quality

Entrepreneurshi p and Business Planning Portion of Graphic from pg 192 will go here Copyright © 2007 South-Western. All rights reserved. Internet and Advantage Creating Enter Market Competing Business Plan Risks Website Advertising Sales Expenses

Entrepreneurshi p and Business Planning Portion of Graphic from pg 192 will go here Copyright © 2007 South-Western. All rights reserved. Business Plan Creating Enter Market Competing Business Plan Risks 1.Environments 2.Management 3.Marketing 4.Financial

Entrepreneurshi p and Business Planning Portion of Graphic from pg 192 will go here Copyright © 2007 South-Western. All rights reserved. Assess the Environment Creating Enter Market Competing Business Plan Risks Economic Industry Global

Entrepreneurshi p and Business Planning Portion of Graphic from pg 192 will go here Copyright © 2007 South-Western. All rights reserved. Management Plan Creating Enter Market Competing Business Plan Risks Organization Production H.R.

Entrepreneurshi p and Business Planning Portion of Graphic from pg 192 will go here Copyright © 2007 South-Western. All rights reserved. Marketing Plan Creating Enter Market Competing Business Plan Risks Product Pricing Distribution Target Market Promotion

Entrepreneurshi p and Business Planning Portion of Graphic from pg 192 will go here Copyright © 2007 South-Western. All rights reserved. Financial Plan Creating Enter Market Competing Business Plan Risks Financing Feasibility

Entrepreneurshi p and Business Planning Portion of Graphic from pg 192 will go here Copyright © 2007 South-Western. All rights reserved. Business Plan Decisions Creating Enter Market Competing Business Plan Risks

Entrepreneurshi p and Business Planning Portion of Graphic from pg 192 will go here Copyright © 2007 South-Western. All rights reserved. Business Risks Creating Enter Market Competing Business Plan Risks

Entrepreneurshi p and Business Planning Portion of Graphic from pg 192 will go here Copyright © 2007 South-Western. All rights reserved. Business Insurance Creating Enter Market Competing Business Plan Risks Insert Exhibit 6.7 from page 221