ENTREPRENEURSHIP STUDY GUIDE

ENTREPRENEURSHIP STUDY GUIDE - ENTREPRENEURSHIP STUDY GUIDE...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
ENTREPRENEURSHIP STUDY GUIDE 1 in 10 US Adults in Workforce are Entrepreneurs Between 600-800,000 New Start-Ups each Year Over 99% of All Businesses are Considered to be Small Businesses Small companies are responsible for about 75% of net new jobs (job  growth). Approximately 54% of all US workers are employed by small  businesses. Small business account for 52% of all sales Types of Start-Ups Salary Replacement Lifestyle Firm High Growth Venture (called Gazelles in text) The US has the highest total entrepreneurial rate among the G8 companies – followed  by Canada with the 2 nd  highest. Japan and France have by far the lowest rates for new  business start-ups. The US outranks the rest of the world on key entrepreneurial framework conditions –  including financial support, physical infrastructure, entrepreneurship education and  training, social norms, and favorable government oversight (protection of IP, taxation,  bankruptcy protection, labor laws and other regulations) Innovation Examples: Apple’s IPOD Dell’s Make to Order PCs Starbucks Customer Experience New and smaller firms have been responsible for 55% of innovations in 362 different  industries and 95% of all radical innovations
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
High growth firms produce twice as many product innovations per employee as do  larger firms New and smaller firms collectively obtain more patents per sales dollar than do larger  firms  Why Do People Become Entrepreneurs: -Pursue their own ideas -To be their own boss (independence) -Realize financial rewards Characteristics of Successful Entrepreneurs -Passion for their business -Product/customer focus -Tenacity despite repeated failure -Execution intelligence Gender Currently there are about twice as many male entrepreneurs as female,  but the current rate of  new entrepreneurship  among women is higher  than for men  Work experience  Prior entrepreneurial experience positively correlated to being an  entrepreneur Entrepreneurial family Tend to have parents who were entrepreneurial and encouraged independence,  achievement, and responsibility Age
Background image of page 2
Most start entrepreneurial carriers between the ages 22 and 45 with 25 to  35 being the most likely age range for men; female entrepreneurs tend to  be older with 35 to 45 being their most likely age. Friedman’s “Flatteners” When the Walls Came Down and the Windows Went Up When Netscape Went Public Work Flow Software Open Sourcing Outsourcing Offshoring  Supply-Chaining Insourcing  Informing The Steroids Economic Drivers The Impact of the Internet on modern markets cannot be overstated; sustaining 
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 14

ENTREPRENEURSHIP STUDY GUIDE - ENTREPRENEURSHIP STUDY GUIDE...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online