Phoenix Suns/DECA Workshop January 26, :30 pm – Senior Director of Marketing Workshop 7:00 pm – Phoenix Suns v. Charlotte – $44 – $59 – Free Gift – Excused Absence from school If you’re interested let me know

Entrepreneurial Material Are you Entrepreneurial Material…………. If you scored: – 50-70…..Do It – 25 – 45…Work Towards It – 20 – 0…..Not So Much

Four Kinds of Businesses Review Takes the extractor’s products or raw materials and changes them into a form that consumers can use. A business that grows products or takes raw materials from nature. A business that does things for you instead of making or marketing products. A business involved with moving goods from producers to consumers. a.) Extractorb.) Manufacturer c.) Marketerd.) Service

Seven Basic Business Activities Exploring Business

Generating Ideas The process of thinking about a new or improved product, service, or piece of equipment that can be put on the market Once the business is established, it must continue to develop ideas

Raising Capital Start-up money is critical and must be available to start the business Even existing businesses must raise capital to finance new products and even daily operations

Buying Goods and Services Must buy for either inventory purposes or company supplies. Manufacturing companies need raw materials for production Purchased services might include advertising space or office cleaning supplies

Using Human Resources All businesses need a system for dealing with employees Recruiting, interviewing, & training, are all important in employee relations Deals with on-the-job safety issues and other laws

Role of Human Resources Important of be educated when dealing with human resources Interview QuestionYESNO Are you married? How many kids do you have? Have you ever been arrested? Are there any religious holidays you will need to take work off for? How old are you?

Human Resources Could you fire someone for….YesNo If an employee turns their employee in for violating the law? For being too old? You ask an employee out on a date and they decline? Worker files worker’s compensation?

Marketing Goods and Services Providing the kind of product or service desired by consumers Some marketing activities occur before a product is produced and ready for sale

Producing Goods and Services The good or service must be produced at the scheduled time, in the right amount, and at a competitive cost Assembling people, raw materials, processes, and equipment is important

Keeping Records Most company records are kept on the computer Records are important for many reasons including – Determining if the company is making money – Providing information for management decisions – Data for government reports like tax forms

Impact of a New Business on a Community Added income for the citizens who live in the community These wages are spent in local businesses More houses needed for employees who live outside the area New businesses need electricity, office furniture, and supplies Businesses attract other businesses

Assignment Complete the matching exercise at the bottom of page 6

Assignment