Entrepreneurship Business Management Chapter 1.2 Glencoe Business Management

Name the Company 1. Michael Dell 2. Sam Walton 3. Steve Jobs 4. Tom Anderson 5. Philip Knight 6. Wally Amos 7. Henry Ford 8. Rose Blumkin 9. Mark Cuban 10. Russell Simmons 11. Dave Thomas 12. Bill Gates 13. Ray Kroc 14. Walt Disney

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

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

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

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