entrepreneurship: ideas in action© south-western publishing chapter 2 what skills do entrepreneurs...
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ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 2Chapter 2WHAT SKILLS DO ENTREPRENEURS NEED?
Communication Skills Math Skills Problem-Solving Skills
ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 2
Slide 2
COMMUNICATION SKILLS
Develop good skills for writing, speaking, and listening.
ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 2
Slide 3
WHY MIGHT YOU WRITE BUSINESS LETTERS? Solicit business Respond to customer questions Negotiate purchases Deal with suppliers
ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 2
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GOOD BUSINESS WRITING
Communicates ideas clearly. Is concise and coherent. Gets results by being positive and
persuasive.
ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 2
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RULES FOR WRITING BUSINESS LETTERS1.1. Type all formal correspondence.
2.2. Spell names correctly and have the correct address.
3.3. Always date your business correspondence.
4.4. Use names and titles appropriately.
5.5. Be direct and positive.
6.6. Be persuasive and specific.
7.7. Avoid using fancy language.
8.8. Be polite.
9.9. Use an appropriate closing.
10.10. Proofread for spelling and grammatical errors.
ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 2
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WHY ARE SPEAKING SKILLS IMPORTANT? How you present yourself will have a
major impact on the people with whom you deal.
» Telephone conversations» Face-to-face meetings
with customers and suppliers
ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 2
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TELEPHONE TIPS
1.1. Speak clearly, and talk directly into the receiver.
2.2. Be cheerful.
3.3. Always speak politely.
4.4. Think about what you are going to say before you make a call.
5.5. Take notes.
ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 2
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MAKING THE MOST OF PERSONAL CONTACTS1.1. Shake hands and make eye contact with the
person you are meeting.
2.2. Show an interest in what the other person is saying.
3.3. Speak clearly.
4.4. Do not appear rushed or anxious to be somewhere else.
5.5. Thank the person at the end of the meeting.
ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 2
Slide 9
LISTENING SKILLS
1.1. Focus your attention on the person who is speaking.
2.2. Think about and try to understand what the other person is saying.
3.3. Ask questions to make sure you understand what the person is saying.
4.4. Take notes to confirm what you are hearing.
ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 2
Slide 10
MATH SKILLS
Use basic math skills in business.» Addition and subtraction» Multiplication» Averages using division
Complete sales transactions. Calculate percentages for
business purposes.
ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 2
Slide 11WHAT BUSINESS APPLICATIONS USE PERCENT CALCULATIONS? Growth rates Interest payments Exact interest method Ordinary interest method Markups and markdowns Discounts Due dates Last day for discount
ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 2
Slide 12What are the Six Steps of the Problem-Solving Process? Define the problem. Gather information. Identify various solutions. Evaluate alternatives and
select the best option. Take action. Evaluate the action.
ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 2
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Define the Problem
Write down what the problem is. Identify why it is a problem. Quantify as many parts as possible.
ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 2
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Gather Information
Company records Industry data Interviews with:
» Customers» Suppliers» Employees
ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 2
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Identify Various Solutions
Most problems have more than one solution.
All possibilities should be identified before a final solution is chosen.
ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 2
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Evaluate Alternatives & Select the Best Option Sometimes alternatives
can be quantified by costs and benefits.
Sometimes alternatives have to be ranked because they can’t be quantified.
ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 2
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Take Action
Once the best alternative is chosen, the solution must be put into effect.
ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 2
Slide 18
Evaluate the Action
The problem-solving model is not complete until the implemented solution is evaluated.
It may be that even a well-thought-out solution does not work.
ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 2
Slide 19
Group Problem Solving
Brainstorming» Creative group problem-solving
technique that involves generating a large number of fresh ideas
Consensus-based decision making
» Agreement among a group of people