Common thread is that all of them must be able to handle risk to succeed. Traits: › Serious about...
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Transcript of Common thread is that all of them must be able to handle risk to succeed. Traits: › Serious about...
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Common thread is that all of them must be able to handle risk to succeed.
Traits:› Serious about work› Like problem solving› Persistent and follow through when they
encounter obstacles.
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› Responsible› Dependable› Risk-takers› Self motivated› Good communicators› Like working alone› Work long hours› Get along with others› Get bored quickly› Frustrated by item by item instructions› Like lists and go step by step
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Active Entrepreneur Quiet Entrepreneur Follower Entrepreneur
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Try just about anything Major risk takers When they fail they bounce right back
and try again.
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Carefully prepare before starting
Like more information before taking a big risk.
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Comfortable following the lead of others.
Enjoy some risk and seeing the results of their efforts.
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Account for a large amount of the risk. Productive resources: any item of value
that is used to produce goods.› Money, oil, trucks, paper, pens, tables› Equipment, buildings, employees, soil, etc.
The resource is making a product or good, or performing a service.
someone, somewhere is willing and able to pay for the use of the resorce.
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Four kinds of productive resources› Natural resources› Labor resources› Capital resources› Management resources
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Anything provided by nature.› Soil› Water› Living organisms› Minerals
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People whose skills, talents, interests, and intelligence are used for productive purposes.
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Are human-made inputs that are used to make goods.› Machines, pencils, buildings, equipment,
tools› Money
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Human resources whose talents, skills, interests, and intelligence are used to provide leadership and make decisions in the business.
May receive a share of the profits of the business.
Can be listed under labor or human resources in large businesses.
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Is a resource. Used to make a good. Time has value. Wasting time is wasting resources.
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Determine on hand resources and needed resources.
Obtaining resources at reasonable cost. Limitations are usually related to
capital.
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Loans Silent partner Stock Rent or lease Defer payments Sell of assets
› Activity: define these terms page 34-35 add to your chapter 2 notes. Will be on quiz.
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Doing business over the Internet. Goods bought and sold. Used to expand business Used in agribusiness to sell production
inputs, as well as crops and livestock.› Examples: satellite auctions, ebay, etc.
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Set up a domain name: URL where your web site will be found.› www.NetworkSolutions.com› $70.00 two years, annually thereafter
Create a web pageWeb host: a service that makes a wed site
available to the public. Fees may apply!
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Advertise your web site:› Newspapers› Magazines› Billboards› TV
Easy for customers to purchase items.Security and Prompt shipment
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In groups of two Create a E-Commerce agribusiness What will be your e-commerce business?
Step 1: Identify a new domain name: search www.NetworkSolutions.com 10 pointsStep 2: Create a web page: must be attractive, simple, description of business, list of products sold and prices, owners name and contact information.30 pointsStep 4: identify your potential web host. 10 points
Print your web page and attach a copy to your e-commerce business report 5 points(may use web page templates available on the internet) www.wix.com
How will you obtain customers? Report must be typed 10 points