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Unformatted text preview: 1 Fashion Entrepreneurship: Retail Business Planning Michele M. Granger, EdD, ITAA Tina M. Sterling Chapter 1 Becoming a Fashion Retail Entrepreneur Objectives 3 Introduction to Entrepreneurship There is tremendous interest in entrepreneurship in the U.S. and around the world. According to the 2010 GEM study, 7.6% of Americans are actively engaged in starting a business or are the owner/manager of a business that is less than three years old. 1-4 Indications of Increased Interest in Entrepreneurship Books ¡ Amazon.com lists over 35,600 books dealing with entrepreneurship and 62,700 focused on small business. College Courses ¡ In 1985, there were about 250 entrepreneurship courses offered across all colleges in the United States. ¡ Today, more than 2,000 colleges and universities in the United States (which is about two-thirds of the total) offer at least one course in entrepreneurship. 1-5 Introduction to Entrepreneurship Academic Definition (Stevenson & Jarillo) ¡ Entrepreneurship is the process by which individuals pursue opportunities without regard to resources they currently control. Venture Capitalist (Fred Wilson) ¡ Entrepreneurship is the art of turning an idea into a business. Explanation of What Entrepreneurs Do ¡ Entrepreneurs assemble and then integrate all the resources needed ± the money, the people, the business model, the strategy ± to transform an invention or an idea into a viable business. 1-6 What is Entrepreneur ship? 2 Corporate Entrepreneurship Corporate Entrepreneurship ¡ Is the conceptualization of entrepreneurship at the firm level. ¡ All firms fall along a conceptual continuum that ranges from highly conservative to highly entrepreneurial....
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This note was uploaded on 02/13/2012 for the course PSYC 2000 taught by Professor Munson during the Fall '10 term at LSU.
- Fall '10