1. Entrepreneurship
Dr. R.C. Insinga

2. Topics Entrepreneurship Small businesses Home businesses
The business plan

3. Entrepreneurship Entrepreneurs create new enterprises.
Characteristics of entrepreneurs
Personality -- nAch, internal locus of control, and high tolerance for ambiguity
Background -- childhood family environment, education, age, and work history (corridor principle)
Life circumstances -- unsatisfactory work environment, negative displacement, career transitions, and positive-pull influencers

4. Small Business Buying a new business
independent
franchise
Small business managers are different than entrepreneurs
managers rather than sources of inspiration
more administrative than transformational

5. Home Businesses See p. 675 in text
Grew in the 90’s due to ready availability of office technology
Trend of larger companies in the early 90’s during the period of recession and early stages of a slow recovery
Currently less significant as companies are tending to bring employees on staff

6. Business Plan See page 687 in text Value of a business plan
evaluate the investment
make decisions on need for and allocation of resources
present to potential sources of capital
help to manage the business