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Chap006doc - GETTING TO KNOW MEG WHITMAN FROM EBAY

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Chap006doc - GETTING TO KNOW MEG WHITMAN FROM EBAY ...

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    GETTING TO KNOW RENEE AMOORE FOUNDER OF THE

    AMOORE GROUP. The profile at the beginning of this chap-

    ter focuses on Renee Amoore, who used her health care

    background and experience to launch three successful ven-

    tures. Her message is one of personal empowerment.

     I. THE AGE OF THE ENTREPRENEUR.

     A. One poll of college seniors showed that 56% of them

    were attracted more to STARTING THEIR OWN

    BUSINESSES rather than joining a corporation.

     B. Of the 5.0 million Americans going into business in

    1996, almost a third were 30 or younger.

     C. Colleges are responding by offering more courses on

    the subject of entrepreneurship.

     D. ENTREPRENEURSHIP is accepting the risk of start-

    ing and running a business.

     II. THE JOB-CREATING POWER OF ENTREPRE-

    NEURS IN THE UNITED STATES.

     A. One of the major issues in the U.S. today is the need

    to CREATE MORE JOBS.

     B. You can get some idea about the JOB-CREATING

    POWER of entrepreneurs when you look at some of

    the great American entrepreneurs from the past and

    the present.

     C. The text lists examples including PAST ENTREPRE-

    NEURS George Eastman (Kodak), David McConnell

    (Avon), and Henry Ford (Ford Motor Company.)

    6.10 UNDERSTANDING BUSINESS: Instructor’s Resource Manual

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6.11 UNDERSTANDING BUSINESS: Instructor’s Resource Manual

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     D. CONTEMPORARY ENTREPRENEURIAL TALENT

    includes Jeff Bezos (Amazon.com), Steve Jobs (Apple

    Computer), and Howard Schultz (Starbucks.)

     III. WHY PEOPLE TAKE THE ENTREPRENEURIAL

    CHALLENGE.

     A. Reasons why people are WILLING TO TAKE THE

    RISKS of business ownership include:

     1. OPPORTUNITY to share in the American dream.

     2. PROFIT.

     a. Many people who don’t succeed in large or-

    ganizations have the initiative and drive de-

    manded by entrepreneurship.

     b. Managers leaving corporate America and

    people with disabilities find opportunities in

    starting a business.

     3. INDEPENDENCE.

     a. Many entrepreneurs do not enjoy working for

    someone else.

     b. Some have found more SELF-SATISFAC-

    TION in starting their own businesses.

     4. CHALLENGE.

     a. Some believe that entrepreneurs are excite-

    ment junkies who flourish on taking risks.

    6.12 UNDERSTANDING BUSINESS: Instructor’s Resource Manual

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6.13 UNDERSTANDING BUSINESS: Instructor’s Resource Manual

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     b. Many contend that entrepreneurs take MOD-

    ERATE, CALCULATED RISKS.

     c. In general, entrepreneurs SEEK ACHIEVE-

    MENT more than power.

     B. WHAT DOES IT TAKE TO BE AN ENTREPRENEUR?

     1. The list of ENTREPRENEURIAL ATTRIBUTES

    includes:

     a. SELF-DIRECTED and self-disciplined.

     b. SELF-NURTURING, believing in your own

    ideas.

     c. ACTION-ORIENTED, having a desire to build

    the dream into reality.

     d. HIGHLY ENERGETIC. Entrepreneurs must

    work long hours to succeed.

     e. TOLERANT OF UNCERTAINTY. Entrepre-

    neurs must be able to take calculated risks.

     2. Most entrepreneurs don’t get the ideas for their

    products and services from some FLASH of inspi-

    rationoften the source of innovation is more like

    a FLASHLIGHT.

     3. An ENTREPRENEURIAL TEST to determine if

    you have the entrepreneurial spirit is provided in

    the appendix at the end of the chapter.

     C. ENTREPRENEURIAL TEAMS.

     1. An ENTREPRENEURIAL TEAM is a group of ex-

    perienced people from different areas of

    6.14 UNDERSTANDING BUSINESS: Instructor’s Resource Manual

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6.15 UNDERSTANDING BUSINESS: Instructor’s Resource Manual

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     business who join together to form a managerial

    team with the skills needed to develop, make, and

    market a new product.

     2. This gives the company the COMBINATION OF

    SKILLS need to get the new company off to a

    great start.

     3. The text uses the example of the “smart team” of

    corporate entrepreneurs who founded Compaq

    Computers.

     4. Entrepreneurs often turn their companies over to

    professional managers once the firm grows to a

    certain size.

     D. MICROPRENEURS AND HOME-BASED BUSI-

    NESSES.

     1. MICROPRENEURS are entrepreneurs willing to

    accept the risk of starting and managing the type

    of business that remains small, lets them do the

    kind of work they want to do, and offers them a ba-

    lanced lifestyle.

     2. While entrepreneurs are committed to the quest

    for growth, micropreneurs can be happy with little

    expansion.

     3. Many micropreneurs are HOME-BASED BUSI-

    NESS OWNERS, nearly half in SERVICE INDUS-

    TRIES.

     4. Many are owned by people who are trying to com-

    bine career and family.

    6.16 UNDERSTANDING BUSINESS: Instructor’s Resource Manual

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6.17 UNDERSTANDING BUSINESS: Instructor’s Resource Manual

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     5. Other reasons for the GROWTH OF HOME-

    BASED BUSINESSES include:

     a. Computer technology has leveled the competi-

    tive playing field.

     b. Corporate downsizing has eroded job security.

     c. Social attitudes have changed to encourage

    home-based businesses.

     d. New tax laws have loosened the restrictions

    regarding deductions for home offices.

     6. MAJOR CHALLENGES facing home-based busi-

    nesses include:

     a. Getting new customers.

     b. Managing time.

     c. Keeping work and family tasks separate.

     d. Abiding by city ordinances.

     e. Managing risk.

     7. HOME OFFICE ENTREPRENEURS SHOULD

    FOCUS ON:

     a. Finding opportunity instead of accepting secu-

    rity.

     b. Getting results instead of following routines.

     c. Earning a profit instead of earning a paycheck.

     d. Trying new ideas instead of avoiding mistakes.

     e. Creating a long-term vision instead of seeking

    a short-term payoff.

     E. WEB-BASED BUSINESSES.

    6.18 UNDERSTANDING BUSINESS: Instructor’s Resource Manual

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6.19 UNDERSTANDING BUSINESS: Instructor’s Resource Manual

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