12. What is a Business?
Entrepreneurship and Small Business
Mohammad Tawfik
#WikiCourses
http://WikiCourses.WikiSpaces.com
13. Sell and buy product for the sake of profit!
Entrepreneurship and Small Business
Mohammad Tawfik
#WikiCourses
http://WikiCourses.WikiSpaces.com
14. Selling and buying does not have to be only for
money!
Entrepreneurship and Small Business
Mohammad Tawfik
#WikiCourses
http://WikiCourses.WikiSpaces.com
15. Product may include tangible or intangible
products, e.g. a car vs. SW support
Entrepreneurship and Small Business
Mohammad Tawfik
#WikiCourses
http://WikiCourses.WikiSpaces.com
16. Profit does not have to be always financial profit,
e.g. number of people having healthy food
Entrepreneurship and Small Business
Mohammad Tawfik
#WikiCourses
http://WikiCourses.WikiSpaces.com
28. An employee works for someone in return for a
benefit, usually money
Entrepreneurship and Small Business
Mohammad Tawfik
#WikiCourses
http://WikiCourses.WikiSpaces.com
29. An entrepreneur works for himself/herself with or
without partners and/or employees
Entrepreneurship and Small Business
Mohammad Tawfik
#WikiCourses
http://WikiCourses.WikiSpaces.com
30. An entrepreneur adds value to scarce resources
to generate profit
Entrepreneurship and Small Business
Mohammad Tawfik
#WikiCourses
http://WikiCourses.WikiSpaces.com
33. An entrepreneur have control over what, when,
how, where, with whom, and for whom #WikiCourses
the
Entrepreneurship and Small Business
Mohammad Tawfik
http://WikiCourses.WikiSpaces.com
product is produced!
34. “An entrepreneur is someone who would work 16
hours per day in order not to work 8 hours per day
for someone else!”
Entrepreneurship and Small Business
Mohammad Tawfik
#WikiCourses
http://WikiCourses.WikiSpaces.com
36. Remember that there is not free lunch!
Entrepreneurship and Small Business
Mohammad Tawfik
#WikiCourses
http://WikiCourses.WikiSpaces.com
37. An entrepreneurial business may be:
For profit
Entrepreneurship and Small Business
Mohammad Tawfik
#WikiCourses
http://WikiCourses.WikiSpaces.com
38. An entrepreneurial business may be:
Not-for profit
Entrepreneurship and Small Business
Mohammad Tawfik
#WikiCourses
http://WikiCourses.WikiSpaces.com
39. An entrepreneurial business may be:
Social entrepreneurship!
Tom’s shoes
Gramin bank
Entrepreneurship and Small Business
Mohammad Tawfik
#WikiCourses
http://WikiCourses.WikiSpaces.com
41. Use a new technology to produce a new product.
Entrepreneurship and Small Business
Mohammad Tawfik
#WikiCourses
http://WikiCourses.WikiSpaces.com
42. Use an existing technology to produce a new
product.
Entrepreneurship and Small Business
Mohammad Tawfik
#WikiCourses
http://WikiCourses.WikiSpaces.com
43. Use an existing technology to produce an old
product in a new way.
Entrepreneurship and Small Business
Mohammad Tawfik
#WikiCourses
http://WikiCourses.WikiSpaces.com
44. Find a new source of resources to produce more
efficiently.
Entrepreneurship and Small Business
Mohammad Tawfik
#WikiCourses
http://WikiCourses.WikiSpaces.com
45. Develop a new market for an existing product.
Entrepreneurship and Small Business
Mohammad Tawfik
#WikiCourses
http://WikiCourses.WikiSpaces.com
46. Assignment!
●
Identify a local business near you
●
Name it
●
Locate it on the map (Google maps)
●
Describe its product
●
Identify its suppliers
●
Identify its customers
●
Identify the level and type of technologies used
●
Create a mind-map for the business describing all of the above!
Entrepreneurship and Small Business
Mohammad Tawfik
#WikiCourses
http://WikiCourses.WikiSpaces.com
47. References
●
●
Entrepreneurship and Small Business
Management, 1/e, Steve Mariotti and Caroline
Glackin, 2012, Pearson Education
Effective Small Business Management, 10/e,
Norman M. Scarborough, Prentice Hall, 2011
Entrepreneurship and Small Business
Mohammad Tawfik
#WikiCourses
http://WikiCourses.WikiSpaces.com