aem120-8-24 - 8/24 Chapter 1 What is Entrepreneurship What...

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8/24 – Chapter 1 – What is Entrepreneurship? What is an entrepreneur? o One who organizes, manages, and assumes the risks of a business or enterprise o Business entrepreneurs are often highly regarded in US culture as being a critical component of its capitalistic society. Famous entrepreneurs include: Henry Ford (automobiles), J. Pierpont Morgan (banking), Thomas Edison (electricity/light bulbs), Bill Gates (computer operating systems and applications) and others. o Some distinguish business entrepreneurs as either " political entrepreneurs " or "market entrepreneurs." Earl Blanks (Party City) o An entrepreneur is one who assumes the risk of running a business (based on calculated risks) o Discusses entrepreneurship, franchising, marketing, cash flow, leadership and diversity issues with regards to inner city economic challenges o discusses his decision to experience a corporate environment prior to venturing out as an entrepreneur o
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