Lec+9-+Entrepreneurship - DrFaizaAli resources, ser

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MGMT 142 Principles of Management Dr Faiza Ali
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Entrepreneurship occurs when an enterprising individual pursues a lucrative opportunity Entrepreneurs initiate and build organizations Entrepreneurship involves creating new systems, resources, or processes to produce new goods or services and/or serve new markets
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Small Businesses have fewer than 100 employees, are independently owned and operated, thy are not dominant in their field and are not characterized by many innovative practices Entrepreneurial ventures are new businesses that have growth and high profitability as their primary objectives
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Entrepreneurs start their own firms because of: The challenge The profit potential Roadblocks at big corporations Frustration by bureaucracy or other features of corporate life The enormous satisfaction they hope lies ahead
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Many young people have succeeded: Michael Dell Dell Computers Frank Carney Pizza Hut Paul Orfalea Kinko’s Fred DeLuca Subway . Kristy Taylor SkinCareRx.com Opportunity to reap large profits
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Innovation and creativity They possess knowledge and skills in Management Business Networking
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Entrepreneurs generally look for two things when starting a business The idea itself An opportunity
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Many great organizations have been built based on
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  • Fall '15
  • The Land, The Opportunity, new businesses, Management Dr Faiza, unique business concept, friend Robin Newberry

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