1. Mktg8175.019 Explain business as it relates to SER industries
Mktg8175.020 Compare types of business ownership and their roles to the
SER industries

2.  An organization operated with the objective
of making a profit from the sale of goods or
services

3.  Sees opportunities to create new
products/services or improve existing ones
while taking the risk of starting and operating
a business
Examples: Bill Gates, Donald Trump
Benefits of entrepreneurship:
 Generate new products and new jobs

4.  Sole proprietorship
 Partnership
 Corporation

5. ****MOST COMMON
 Advantages
 All profit
 Make all decisions
 Disadvantages
 All risk
 Expensive
 Examples
 Start your own business
 Purchase an existing business
 Purchase a franchise business
 Take over a family business

6.  Advantages
 Share risk
 Disadvantages
 Share profit
 Example
 H& M lawncare

7.  Advantages:
 Less tax
 Less risk
 Perpetual existence
 Disadvantages:
 Profit to investors
 Example:
 Dick’s Sporting Goods