Students will understand the critical connection between analysis idea creation and business development and important role it plays in sustained personal business success.
Introduction: There are many ways to organize the effort of planning, launching and building a venture, but is entrepreneurship for you? It is all too possible to start a business without a fundamental understanding of what it takes to launch and sustain a successful business. It may not be a good idea to start a small business venture unless you are prepared to face challenges and rough patches. Are you able to manage multiple roles that may not be your favorite thing to do? Are you ready to manage the long haul after the initial enthusiasm has faded? Is entrepreneurship for you?
Deliverables:
The essay for this lesson is required to be a minimum of 750 words (excluding title and reference pages) that clearly demonstrate your understanding of the activity. Essays should have a clear introduction, thesis statement and conclusion, written in APA format (APAstyle.org). A minimum of three sources, at least two from the lesson, must be cited in-text and in the Reference list.
Activity Details:
Perform the following steps:
Step 1: Read the following materials.
Read about “Foundational Entrepreneurial Process” and “Is Entrepreneurship for You?” to cover the fundamentals about starting a small business and the entrepreneurial process.
Decision to Become an Entrepreneur from Barringer, B. & Ireland, R.D. (2016). Entrepreneurship: Successfully Launching New Ventures. (5th ed.). (Chapter 1, pp. 3-36). Prentice Hall.
Starting a Business Advice
This SBA article, Is Entrepreneurship for You? provides you more detail about what it takes to become an entrepreneur.
Step 2: Address the following
Write an introductory paragraph that addresses starting a small business
Pros and Cons of owning a business
Elaborate on the need to have a fundamental understanding about starting a small business
Give an overview of the entrepreneurial process with specific examples of how to implement an entrepreneurial process
For the conclusion paragraph summarize what you have learned about what it takes to start a small business and the entrepreneurial process
In your conclusion be sure to answer whether Entrepreneurship is for you, why or why not?
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