What is Entrepreneurship?

Entrepreneurs can change the world… Video Video Video

What do we know? Student Task: In your notes, brainstorm the following: In your notes, brainstorm the following: What is an Entrepreneur? What is an Entrepreneur? What do Entrepreneurs do? What do Entrepreneurs do? Why do people become Entrepreneurs? Why do people become Entrepreneurs?

An Entrepreneur Someone who perceives an opportunity and creates an organization to pursue it. Bygraves

Notes The word "entrepreneur" is derived from the French word "entreprendre," meaning “to undertake.” The word "entrepreneur" is derived from the French word "entreprendre," meaning “to undertake.” Entrepreneur – a person who undertakes and operates a new venture in order to satisfy needs and/or wants that exist in society. Entrepreneur – a person who undertakes and operates a new venture in order to satisfy needs and/or wants that exist in society. Venture – what the entrepreneur does. In many cases, the venture is a business carried out to make a profit. Venture – what the entrepreneur does. In many cases, the venture is a business carried out to make a profit.

Needs -essential for human survival/health. Can be classified into: Real (basic) or Physical needs (such as water, food, sleep, etc.) Real (basic) or Physical needs (such as water, food, sleep, etc.)AND Psychological needs (emotional ones, such as love, companionship, security, etc.) Psychological needs (emotional ones, such as love, companionship, security, etc.)

Wants -human desires that are not essential for human survival or health they make people feel happy they make people feel happy ex. getting highlights in your hair, or buying an iPod ex. getting highlights in your hair, or buying an iPod

“Famous” Entrepreneurs Let’s take a moment to study some successful Entrepreneurs. Let’s take a moment to study some successful Entrepreneurs. As you view each of the following Entrepreneurs answer the following: As you view each of the following Entrepreneurs answer the following: a)Who is the Entrepreneur? b)What was each Entrepreneur’s venture? 1.Name:________________ Venture:_______________

1. Bill Gates Microsoft

2. Ray Kroc

3. Oprah Winfrey

4. Sam Walton

5. Thomas Edison

6. Lawrence Page and Sergei Brin

7. George de Mestral Velcro

8. Tim Berners-Lee The Internet

9. Mark Zuckerberg

10. Howard Shultz – $ 1.1 Billion

11. Jeff Bezos - $4.4 Billion

12. Chad Hurley & Steve Chen YouTube Founders YouTube Founders YouTube Founders YouTube Founders

Assignment In your binders, list the Entrepreneurs from “most” to “least” important with regard to what each has “given” to society. In your binders, list the Entrepreneurs from “most” to “least” important with regard to what each has “given” to society. Be prepared to defend your decision with the class.