Understand activites and careers in small business management and entrepreneurship.
United States' Market Economy
The US government has a Free Enterprise System
- Opportunity to start and own a business
- Business ventures are risky, but is usually worth the investment
There are 4 basic forms of business ownership
Business Functions of an Entrepreneur
- Financial management: Understands the financial concepts and tools used in making business decisions.
- Human Resource management: Understands the concepts and strategies needed o acquire, motivate, develop, and terminate staff.
- Information management: Understands the concepts, systems, and tools needed to access, process, maintain, and evaluate information for business decision-making.
- Marketing management: Understands the concepts, systems, and tools needed to access, process, maintain, and evaluate information for business decision-making.
- Operations management: Understands the process and systems implemented to facilitate daily business operations.
- Risk management: Understands the concepts, strategies, and systems that businesses implement and enforce to minimize loss.
- Strategic management: Understands the processes, strategies, and systems needed to guide the overall business organization.
Entrepreneurial Career Opportunities
Can you think of others?
- Ted Turner
- Larry Ellison
- Mary Kay Ash
- Ray Kroc
- Steven Spielberg
- Walt Disney
- Richard Branson
- William Rosenburg