FOCUS QUESTIONS FOR THIS SECTION
What are entrepreneurs?
What must one consider to become one?
What is an entrepreneurial spirit?
Section 4: Entrepreneurship
SECTION DESCRIPTION
In these lessons, students will be able to explore the mindset and skill set of an entrepreneur. They will accumulate an understanding of the risks and rewards of choosing entrepreneurship as a career. Students will also be given an opportunity to view how an entrepreneur is a problem solver by creating brand new ideas or improving existing ideas.
LESSON OBJECTIVES
Define entrepreneurs as people who take risks to develop new products and start new businesses.
Define entrepreneurial qualities such as recognizing opportunities, working for themselves, and accepting challenges.
LESSON OBJECTIVE
Explain how entrepreneurs raise capital to finance a business.
Distinguish between entrepreneurs who create an invention and ones who have an innovation that improves an existing product.
LESSON OBJECTIVES
Illustrate the type of creative problem-solving that entrepreneurs use to solve problems through innovation.
Calculate whether an entrepreneur will earn a profit based on if the revenue covers the costs.
LESSON OBJECTIVES
Compare the expected benefits of entering a new enterprise with the expected costs.
LESSON OBJECTIVES
Assemble a comprehensive list of non-monetary, positive incentives that drive entrepreneurs to become their own bosses, achieve recognition, and gain satisfaction in creating something new.
Assemble a comprehensive list of negative incentives that dissuade people from becoming an entrepreneur, including financial losses, additional responsibility, long hours, and stress.