© SOUTH-WESTERN THOMSONINTERNATIONAL BUSINESS LESSON9-1 GOALS  Explain the importance of entrepreneurs in the development of an economy.  Differentiate.

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© SOUTH-WESTERN THOMSONINTERNATIONAL BUSINESS LESSON9-1 GOALS  Explain the importance of entrepreneurs in the development of an economy.  Differentiate between the types of entrepreneurial businesses.  Describe telecommuting and the effect of technology on home-based businesses. ENTREPRENEURIAL ENTERPRISES

© SOUTH-WESTERN THOMSONINTERNATIONAL BUSINESS 2 The Economic Importance of Entrepreneurs Innovation and the entrepreneurial spirit Economic and social benefits of small business Major creators of new products Major source of jobs Often provide personal service

© SOUTH-WESTERN THOMSONINTERNATIONAL BUSINESS 3 Types of Entrepreneurial Businesses Agriculture, mining, and extracting companies Manufacturing companies Wholesalers Retailers Service companies

© SOUTH-WESTERN THOMSONINTERNATIONAL BUSINESS 4 Home-Based Businesses Telecommuting

© SOUTH-WESTERN THOMSONINTERNATIONAL BUSINESS LESSON9-2 GOALS  Evaluate self-employment as a career option.  Describe the first three sections of a business plan. THE BUSINESS PLAN AND SELF- EMPLOYMENT

© SOUTH-WESTERN THOMSONINTERNATIONAL BUSINESS 6 Self-Employment as a Career Advantages of self-employment Disadvantages of self-employment Qualities of successful entrepreneurs

© SOUTH-WESTERN THOMSONINTERNATIONAL BUSINESS 7 Business description Organizational structure Marketing activities Financial planning Production activities Human resource activities Information needs Business description Organizational structure Marketing activities The Parts of a Business Plan

© SOUTH-WESTERN THOMSONINTERNATIONAL BUSINESS LESSON9-3 GOALS  Outline the process of financing a small business.  Identify the major business activities of a small business manager. OPERATING AN ENTREPRENEURIAL ENTERPRISE

© SOUTH-WESTERN THOMSONINTERNATIONAL BUSINESS 9 Business description Organizational structure Marketing activities Financial planning Production activities Human resource activities Information needs Financial planning The Parts of a Business Plan

© SOUTH-WESTERN THOMSONINTERNATIONAL BUSINESS 10 Financing a Small Business Analyzing costs Variable costs Fixed costs Breakeven point Sources of funds Equity funds Debt funds

© SOUTH-WESTERN THOMSONINTERNATIONAL BUSINESS 11 Financial Records of Small Businesses Balance sheet Income statement Cash flow statement

© SOUTH-WESTERN THOMSONINTERNATIONAL BUSINESS 12 Business description Organizational structure Marketing activities Financial planning Production activities Human resource activities Information needs Production activities Human resource activities Information needs The Parts of a Business Plan

© SOUTH-WESTERN THOMSONINTERNATIONAL BUSINESS 13 Managing the Small Business Production management Human resources management Information management