© south-western thomsoninternational business lesson9-1 goals explain the importance of...

© SOUTH-WESTERN THOMSONINTERNATIONAL BUSINESS

LESSONLESSON9-19-1GOALSGOALS

Explain the importance of Explain the importance of entrepreneurs in the entrepreneurs in the development of an development of an economy.economy.

Differentiate between the Differentiate between the types of entrepreneurial types of entrepreneurial businesses.businesses.

Describe telecommuting Describe telecommuting and the effect of and the effect of technology on home-based technology on home-based businesses.businesses.

ENTREPRENEURIAL ENTERPRISES

2


The Economic Importance of Entrepreneurs

Innovation and the entrepreneurial spiritEconomic and social benefits of small

businessMajor creators of new productsMajor source of jobsOften provide personal service

3


Types of Entrepreneurial Businesses

Agriculture, mining, and extracting companies

Manufacturing companiesWholesalersRetailersService companies

4


Home-Based Businesses

Telecommuting



Evaluate self-employment Evaluate self-employment as a career option.as a career option.

Describe the first three Describe the first three sections of a business sections of a business plan.plan.

THE BUSINESS PLAN AND SELF-EMPLOYMENT

6


Self-Employment as a Career

Advantages of self-employmentDisadvantages of self-employmentQualities of successful entrepreneurs

7


Business descriptionOrganizational structureMarketing activitiesFinancial planningProduction activitiesHuman resource activitiesInformation needs

Business descriptionOrganizational structureMarketing activities

The Parts of a Business Plan



Outline the process of Outline the process of financing a small business.financing a small business.

Identify the major business Identify the major business activities of a small activities of a small business manager.business manager.

OPERATING AN ENTREPRENEURIAL ENTERPRISE

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Financial planning


10


Financing a Small Business

Analyzing costsVariable costsFixed costs

Breakeven pointSources of funds

Equity fundsDebt funds

11


Financial Records of Small Businesses

Balance sheetIncome statementCash flow statement

12



Production activities Human resource activities Information needs


13


Managing the Small Business

Production managementHuman resources managementInformation management

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