Saturday, 06 February 2016 Today you will know the main reasons entrepreneurs set up in business. You will understand the variety of motivators that influence the success of entrepreneurs. You will apply these to the case studies: One Water, Cobra Beer, Super Jam and Innocent Drinks.

The motives of entrepreneurs Although 20% of entrepreneurs have money as their prime motive, most are looking for more. Typically they are looking for a ‘challenge’ or to ‘prove themselves’ in other words they are looking for greater satisfaction than they get from a regular job. It is worth noting that enterprise is not always glamorous and profitable, many small business owners speak of long working hours and poor rewards, and some feel that it is easier to earn a wage. Further to this government stats show that 30% of new businesses fail within the first 3 months.

The motives of entrepreneurs The table below shows the key motivators for entrepreneurs in the UK. Produce a graph to show the key motives of entrepreneurship in the UK. (Use the graph paper provided) Motive% Control over my working life17 Spotted an opportunity16 Building on experience as an employee15 Made redundant9 To make money6 Couldn’t find a job2

The motives of entrepreneurs Social Enterprise... Not everyone is in it for the money. Some known as ‘social entrepreneurs’ want to achieve something that is worth far more to them. For example Sir Bob Geldof organised Band Aid in 1984, where he wrote and produce the song, “Do they know its Christmas time?” The aim of the song was to raise the profile of starving children in Ethiopia. Following the success of this Sir Bob went on to plan Live Aid in A huge event staged simultaneously at Wembley Stadium in London and John F. Kennedy Stadium in Philadelphia. In total, Live Aid raised over £150 million for famine relief. Geldof was subsequently knighted, at age 34, for his efforts. On the 31 March 2005, Geldof announced the Live 8 project, to raise awareness of issues that burden Africa, such as government debt, trade barriers, and AIDS issues. Geldof organised six concerts on 2 July Wembley StadiumJohn F. Kennedy Stadium Philadelphia£Live 8 These ‘social entrepreneurs’ use their business skills in order to achieve a personal mission to make the world a better place.

Case Study: One Water… Go to the One Water website: Read through the information on the website. Using the information from the website complete the following questions: 1. What were the motivations behind the set up of the following businesses: a) One Water? (3 marks) b) SuperJam (3 marks) c) Cobra Beer (3 marks)d) Innocent Drinks (3 marks) 2. Bob Geldof is described as a ‘social entrepreneur’ explain what is meant by this term. (3 marks)

Case Study: Live Earth… In 2007 Al Gore the former US Vice present put together Live Earth; a series of worldwide concerts that initiated a three-year campaign to combat climate change. The concerts brought together more than 150 musical acts in eleven locations around the world and were broadcast to a mass global audience through televisions, radio, and streamed via the Internet.climate change The aim of these concerts was to raise the profile of climate change, however many critics complained that organising such high profile events only contributed to the problem. Bands including The Who, Muse and the Arctic Monkeys dubbed Live Earth "Private Jets for Climate Change." The event's total carbon footprint, including the artists' and spectators' travel and energy consumption, was probably at least 74,500 tonnes, according to John Buckley of CarbonFootPrint.com - more than 3,000 times the average Briton's annual footprint. Performers flew at least 222, miles (about 358,278 kilometres) — the equivalent of nearly nine times round the planet — to take part in the event, and this figure does not include transport of technicians, dancers and support staff. An estimate reported that 100,000 planted trees are required to offset total carbon emissions produced during the entire event, as well as a key sponsor for the event being Chevrolet, promoting a new hybrid four-wheel drive.The WhoMuseArctic Monkeyscarbon footprintBriton 1.Identify Al Gores motives behind the organisation of Live Earth concerts. (3 marks) 2.Al Gore is a successful social entrepreneur. To what extend do you agree with this statement? (9 marks) 3.Analyse the success of the Live Earth events. (6 marks)