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NOTESENTREPRENEURSHIP:
The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. The most obvious example of entrepreneurship is the starting of new businesses. In economics, entrepreneurship combined with land, labor, natural resources and capital can produce profit. Entrepreneurial spirit is characterized by innovation and risk-taking, and is an essential part of a nation's ability to succeed in an ever changing and increasingly competitive global marketplace. Read more: http://www.businessdictionary.com/definition/entrepreneurship.html |
Compare your do now response to the list below
Many people dream of being an entrepreneur, but not everyone is cut out for this line of work. Among the traits that have been defined as necessary for succeeding as an entrepreneur are:
- discipline
- frugality
- self‐confidence
- communication skills
- humility
- organizational abilities
- flexibility
ACTIVITY 1 |
Take the Test:
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1. Are you self-motivated?
a. If someone gets me started on something, I can keep going and get the job done. (7 points) b. I like to do things my own way and come up with my own ideas about how to accomplish things. (10 points) c. I prefer not to overdo it. I really don’t like putting myself out unless it is really necessary. (5 points) 2. Are you a leader? a. I usually let people lead themselves. (10 points) b. I can get people to do things but it’s pretty difficult. (7 points) c. Most people go along with my ideas without too much difficulty. (10 points) 3. How organized are you? a. I like to make plans before I start something, and I stick to my plan until it’s done. (10 points) b. I just take things as they come. I don’t like to stifle my possibilities with too many plans. (5 points) c. If things don’t go according to my plan, I take this as a sign... “it wasn’t meant to be.” (7 points) 4. How do you feel about people? a. Most people drive me crazy. (5 points) b. I have enough friends. I make new ones only when necessary. (7 points) c. I really enjoy people and get along with them very well. (10 points) 5. Are you a good worker? a. I can work hard and push through until the goal is accomplished. I don’t mind working hard. (10 points) b. I will work hard if I know it will pay off right away. (7 points) c. I prefer not to overdo it. I am very creative about coming up with ways to avoid hard work. (5 points) 6. Can you make decisions? a. I want to make up my mind. I like to check things out with my friends first. (7 points) b. I like to make my own decisions good or bad, I am willing to put up with the consequences. (10 points) c. I would rather have others make the decisions. What if I make a mistake? (5 points) 7. Can people trust you? a. I try to avoid hurting people’s feelings and say what I think they want to hear. (7 points) b. I tend to say things in a straightforward way, even if other people may not agree with me. (10 points) c. I really don’t care if people trust me. I do and say what I want. (5 points) 8. Can you “stick” with something? a. I usually finish what I start. (7 points) b. If something goes wrong or I find it too difficult, I don’t fight it. (5 points) c. If I set a goal and make up my mind to do something, nothing stops me. (10 points) 9. Do you take responsibility? a. I like to take charge and see things through. (10 points) b. I’ll take over if I have to but I prefer to let someone else be responsible. (7 points) c. There’s always a bossy person around. Let them do it. (5 points) 10. Are records important to you? a. I understand the importance of records but they stifle my creativity. (7 points) b. Records are critical to help me measure my success. (10 points) c. I keep records in my head and I can figure it out as I go. (5 points) |
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TALLY UP YOUR SCORE...
Now look at your answers. There should be ten answers circled. Take the number of points in
parenthesis after each of your answers and add them all together. The sum of your total points should be no larger than 100 and no smaller than 50.
Use the figures below to describe how entrepreneurial you may be.
parenthesis after each of your answers and add them all together. The sum of your total points should be no larger than 100 and no smaller than 50.
Use the figures below to describe how entrepreneurial you may be.
© Copyright National Council on Economic Education http://stavros.coedu.usf.edu/essaycontest/entrepreneur.pdf |
ACTIVITY 2 |
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Look for the areas where you need improvement below. Identify 2 suggestions you would be willing to work on. If you have an idea to help you that is not on this list then please share that idea.
LETS TALK BUSINESS
Directions: After taking the appropriate actions to improve yourself, you are ready to consider starting your own business. Here are eight tips to get you going with a business, even if you don't know where to start.
Activity 3:
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Complete the exercise on the handout, then explain your answers to the following questions:
– What are some reasons why high levels of sales might be viewed as a measure of a business’s success? – What are some reasons why high levels of profits might be viewed as a measure of a business’s success? – What are some reasons why high levels of consumer satisfaction might be viewed as a measure of a business’s success? – What are some reasons why high‐quality products might be viewed as a measure of a business’s success? – What are some reasons why a strong reputation might be viewed as a measure of a business’s success? – What are some reasons why sustained growth might be viewed as a measure of a business’s success? – What are some reasons why a strong commitment to social responsibility might be viewed as a measure of a business’s success? – Which of these seven criteria would you view as the most important measure of a business’s success? |