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Lecture Exploring management (Fifth Edition): Chapter 17 - Schermerhorn

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Chapter 17 - Entrepreneurship and small business. After reading this chapter, you should be able to answer the following questions: Understand the nature of entrepreneurship and entrepreneurs, discuss small business and how to start one. | Chapter 17 Entrepreneurship and Small Business Exploring Management Schermerhorn, Exploring Management, Fifth Edition, © John Wiley & Sons, Inc. All rights reserved. 17-1 Chapter 17 Nick D’Aloisio—17 years old . . . writes Summly app while in high school . . . puts $30 million in the bank. He says: “My parents at first were a bit concerned . . . . You shouldn’t be keeping these hours.” Schermerhorn, Exploring Management, Fifth Edition, © John Wiley & Sons, Inc. All rights reserved. 17-2 2 Learning Objectives Chapter 17 Understand the nature of entrepreneurship and entrepreneurs (17.1) Discuss small business and how to start one (17.2) Schermerhorn, Exploring Management, Fifth Edition, © John Wiley & Sons, Inc. All rights reserved. 17-3 3 ENTREPRENEURSHIP 17.1 Takeaway – answers to come Entrepreneurs are risk takers who spot and pursue opportunities. Entrepreneurs often share similar backgrounds and experiences. Entrepreneurs often share similar personality traits. Women and minority entrepreneurs are growing in numbers. Social entrepreneurs seek novel solutions to social problems. Schermerhorn, Exploring Management, Fifth Edition, © John Wiley & Sons, Inc. All rights reserved. 17-4 4 ENTREPRENEURSHIP 17.1 Entrepreneurship Entrepreneurship risk-taking behavior in pursuit of business success. Entrepreneur willing to pursue opportunities in situations that others view as problems or threats. Mompreneurs pursue business opportunities they spot as mothers. Schermerhorn, Exploring Management, Fifth Edition, © John Wiley & Sons, Inc. All rights reserved. 17-4 5 ENTREPRENEURSHIP 17.1 Entrepreneurs Are Risk Takers Classic Entrepreneur risk-taking individual who takes action to pursue opportunities others fail to recognize, or even view as problems or threats Serial Entrepreneur a person that starts and runs new ventures over and over again, moving from one interest and opportunity to the next Schermerhorn, Exploring Management, Fifth Edition, © John Wiley & Sons, Inc. All | Chapter 17 Entrepreneurship and Small Business Exploring Management Schermerhorn, Exploring Management, Fifth Edition, © John Wiley & Sons, Inc. All rights reserved. 17-1 Chapter 17 Nick D’Aloisio—17 years old . . . writes Summly app while in high school . . . puts $30 million in the bank. He says: “My parents at first were a bit concerned . . . . You shouldn’t be keeping these hours.” Schermerhorn, Exploring Management, Fifth Edition, © John Wiley & Sons, Inc. All rights reserved. 17-2 2 Learning Objectives Chapter 17 Understand the nature of entrepreneurship and entrepreneurs (17.1) Discuss small business and how to start one (17.2) Schermerhorn, Exploring Management, Fifth Edition, © John Wiley & Sons, Inc. All rights reserved. 17-3 3 ENTREPRENEURSHIP 17.1 Takeaway – answers to come Entrepreneurs are risk takers who spot and pursue opportunities. Entrepreneurs often share similar backgrounds and experiences. Entrepreneurs often share similar personality traits. Women and minority