1. Vision-Motivation-Ingenuity
Essential Question
 How is starting a new business risky for Entrepreneurs?
Gr. 4 Financial Literacy
Vision-Motivation-Ingenuity

2. Vision-Motivation-Ingenuity
Play the video.

3. Entrepreneur Vision-Motivation-Ingenuity
November 6, 2018
Entrepreneur
is a person "who draws upon his or her skills and initiative to launch new business venture with the aim of making a profit. Often a risk-taker, this person is inclined to see opportunity when others do not.
Read the meaning of Entrepreneur.

4. Steve Jobs Vision-Motivation-Ingenuity
Does anyone who this entrepreneur is?
Steve Jobs, he was the CEO of Apple.
In the next slides we are going learn about Steve Jobs.

5. Vision-Motivation-Ingenuity
Steve Jobs was born on February 24, 1955, in San Francisco, California, and was adopted by Paul and Clara Jobs. Steve's mother was an accountant, and his father was a machinist who fixed cars as a hobby.
Steve knew how to read when he entered kindergarten. He said his two favorite things to do in kindergarten were to read books and go outside and chase butterflies. He was not interested in school much until he entered fourth grade and had Mrs. Hill as his teacher. She offered him many incentives to learn. He did so well in 4th grade that he was able to skip 5th grade and go right to middle school. 

6. Vision-Motivation-Ingenuity
As Steve grew up he became increasingly curious about the world of electronics that filled his neighbors’ garages. He often watched his father building and repairing things. Steve's dad gave him workbench space in the garage and taught him how to build things, take them apart and put them back together again. Steve became very interested in how things worked and were built. He learned that through exploration he could understand very complex things.
When Steve arrived in Homestead High School, he enrolled in a popular electronics class. His electronics teacher later recalled a time when Steve called up Bill Hewlett himself, co-founder of Hewlett Packard, to get spare parts for his homework. As it turned out, he even received a summer job at HP’s factory.
After reading highlight examples of Steve Job’s showing initiative. As you click the examples will be underlined with green.
-increasingly curious
-build things, take them apart and put them back together again
-learned that through exploration
-enrolled in a popular electronics class

7. Vision-Motivation-Ingenuity
In 1974, Steve got a job as a technician at the video game maker, Atari. He liked the opportunity to get paid for something he loved to do. He saved his money and backpacked around the country of India and then returned to Atari.
Steve Jobs met Steve Wozniak, nicknamed Woz, and discovered they had many things in common. In 1976, Jobs and Wozniak formed Apple Computer Company. They took a risk to start the business by raising $1,300 to invest by Jobs selling his Volkswagen Microbus and Steve Wozniak his special calculator. Steve Jobs became an entrepreneur at the age of 21.
What were the risks of stating the new business for Mr. Jobs.
-selling his Volkswagen

8. Vision-Motivation-Ingenuity
These two gentlemen faced a huge obstacle in the computer market. In the 1970s, most computers were so large that one could fill a room, and they cost so much that consumers could not afford to buy them. Jobs and Wozniak designed their computer to be sold to individual users who would demand their product. They created the personal desktop computer. When the Apple I entered the marketplace, consumers were presented with a smaller, cheaper, and affordable option. Their first model earned them $774,000. Three years after they released their second model, the Apple II, sales had increased 700 percent to $139 million dollars. In 1980, the company became a publicly traded company with a market value of $1.2 billion on the very first day of trading.
What other risks did they face? Click so that answers become underlined.
-they cost so much that consumers could not afford to buy them.
In the beginning of the lesson we learned that entrepreneur's goal is to make a profit. Profit is "the money left over after expenses have been subtracted from sales. Did Steve earn a profit? What evidence do you have to support your answer?
Click so that the answers are highlighted.
-them $774,000. Three years after they released their second model,
-increased 700 percent to $139 million dollars
-market value of $1.2 billion

9. Vision-Motivation-Ingenuity
Jobs has been very successful in business. He was always willing to take the risks involved with introducing products into the marketplace. The Apple III computer suffered technical and marketing problems. Jobs and Wozniak decided to remove the product from the market, improve the product and reintroduce later. In 1983, Jobs unveiled the Lisa. It was designed for people who did not have many computer skills. It did not sell well. Competition from other computer firms also caused Apple to struggle. Always persevering, Apple introduced the Macintosh in It didn't sell well at first to consumers. In 1985, Jobs resigned from the company he had helped start.
What risks did he take that failed?
Click so that answers become underlined.
-risks involved with introducing products
-The Apple III computer suffered technical and marketing problems.
Jobs unveiled the Lisa.
-It did not sell well.  
-Competition from other computer firms
-Macintosh in It didn't sell well at first

10. Vision-Motivation-Ingenuity
Did he quit? No! He hired some of his former employees and started NeXT. The NeXT machine never caught on because it was too costly, had a black and white screen and could not be linked to other computers or run common software. So, Steve Jobs then purchased a small computer animated company called Pixar from filmmaker George Lucas. Nine years later, Pixar released Toy Story. Other movies that came out included Toy Story 2, A Bugs' Life, and Monsters, Inc. which were all very successful. In 1995, Apple purchased NeXT Software for over $400 million, and Steve Jobs returned to Apple as a part time consultant and Chief Executive Officer. The following years saw the unveiling of the iMac, iBook, iPod, iTunes, iPhone, and iPad.
What risks did he take that became rewards?
Click so that answers become underlined.
-NeXT
-Jobs then purchased a small computer animated company called Pixar from filmmaker George Lucas.
-In 1995, Apple purchased NeXT Software for over $400 million, and Steve Jobs returned to Apple

11. Vision-Motivation-Ingenuity
November 6, 2018
From an article entitled, What Students Can Learn From Steve Jobs, the author stated:
"There were computers before the Apple. There were mp3 players before the iPod. There were mobile phones before the iPhone, and there were tablet computers before the iPad. In each, though, Jobs and his colleagues took the time to understand how the function performed by the device fit into the daily narrative of our lives. They carefully built stories, and from those, they built tools of deceptive simplicity. When computers had cursor keys, they gave us a mouse. When computers had text, they gave us icons. When music was pirated, they gave us iTunes. Innovation is not merely a cool invention. Innovation finds the value of that invention in people’s lives." Steve Jobs was innovative and had a very entrepreneurial spirit.
Steve Jobs saw opportunity where others did not. What is an example of that?
Click so that the answer is underlined.
-Jobs and his colleagues took the time to understand how the function performed by the device fit into the daily narrative of our lives

12. Vision-Motivation-Ingenuity
Steve Jobs suffered with cancer for several years before his death on October 5, Do you think consumers are aware of and appreciate the products he brought to market? Just ask anyone holding an iMac, iPhone, iPad, or listening to music they downloaded from iTunes, and you'll have your answer.
In the beginning of the lesson you learned that an entrepreneur is a person that uses their skills and initiative to start new businesses focused on earning money.
Was Steve Jobs an Entrepreneur?

13. Answer the following questions in your JOURNAL
Vision-Motivation-Ingenuity
November 6, 2018
Answer the following questions in your JOURNAL
How is starting a new business risky for Entrepreneurs?
What does the word entrepreneur mean?  
Explain why you think Steve Jobs was or was not a risk taker.  
The definition of entrepreneur is "one who draws upon his or her skills and initiative to launch a new business venture with the aim of making a profit." What skills and initiative did Steve Jobs have that might fit this definition of an entrepreneur? 
Did he make a profit? How do you know?
Students will use the notes in their concept map to answer the questions in the notebook.

14. Vision-Motivation-Ingenuity