Chapter 6 - 0 Managing Small Business Start-Ups CHAPTER 6 0...

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Managing Small Business Start-Ups CHAPTER 6 0
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Learning Objectives Describe the importance of entrepreneurship to the U.S. economy. Define the personality characteristics of a typical entrepreneur. Explain social entrepreneurship as a vital part of today’s small business environment. Outline the planning necessary to launch an entrepreneurial start-up. 0
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Learning Objectives (contd.) Describe the five stages of growth for an entrepreneurial company. Explain how the management functions of planning, organizing, leading, and controlling apply to a growing entrepreneurial company. 0
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Entrepreneurship Process of initiating a business venture Organizing the necessary resources Assumes associated risks and rewards 0
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Five types of Small Business Owners Idealists 24% Optimizers 21% Hard Workers 20% Jugglers 20% Sustainers 15% Rewarded by chance to work on something new and creative Thrive on the challenge of building a larger, more profitable business Enjoy chance to balance work and personal life Get personal satisfaction from being a business owner High energy people who enjoy handling every detail of their own business SOURCE: Study conducted by Yankelovish Partners, reported in Mark Henricks, “The-Cast,” Entrepreneur (March 2000), 14-16. Exhibit 6.1 0
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Entrepreneurship and the Environment Turbulence in the technology sector and the demise of many dot-com start-ups = heightened concerns about small companies competing against big business Entrepreneurship and small business are vital, dynamic increasing important parts of U.S. economy are booming in other countries 0
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Economic changes
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This note was uploaded on 02/26/2009 for the course MGMT 300 taught by Professor Kukalis during the Spring '08 term at CSU Long Beach.

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Chapter 6 - 0 Managing Small Business Start-Ups CHAPTER 6 0...

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