chapter 5 - In fact about 99 percent of the economy is made...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 5 In this chapter the main focus was on owning and managing a business. These people are called entrepreneurs and being on of these involves high risk but great reward. There are four primary reasons why one decides to become entrepreneurs. The ability to make a profit, have plenty of freedom, satisfying their self and lifestyle are all reasons why one chooses to start up their own business. In order to start a business the entrepreneur must realize they are going to have to take plenty of risks, because this is what makes them successful. Not all risks will turn out to be favorable ones, but nonetheless they must be taken. The bigger the risk an entrepreneur takes, the bigger the reward is in the long run. If no risks are taken, owning a business can never be even thought about, because when a person decides to start his or her business a huge risk is being taken right from the start. Most of the economy in the United States comes from these entrepreneurs who decide they are looking to take a risk.
Background image of page 1

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

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: In fact, about 99 percent of the economy is made up by these people. They are not that hard to start up which makes it fill up more of the economy. Make a decision by talking with people that are close to the entrepreneur. The second thing an entrepreneur should do in their process is to make observations and see what works and what does not. This should not only be done in a home area, but with travels that the entrepreneur may go on. A huge part of starting and owning a business is doing something that the owner is good at and enjoys doing. If the entrepreneur opens a business and doesnt know what to do then it will not be a good risk. Owning a business takes a lot of thinking and work on the entrepreneurs part. Taking risks are a big part in the set up of a business too. Without the risks people take the United States and even world would not be anything like it is today. Mostly in part to small business owners....
View Full Document

This note was uploaded on 04/08/2008 for the course BUS 101 taught by Professor Hebbard during the Spring '08 term at Bloomsburg.

Page1 / 2

chapter 5 - In fact about 99 percent of the economy is made...

This preview shows document pages 1 - 2. Sign up to view the full document.

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