Professional Documents
Culture Documents
21 ENTREPRENEURSHIP
AND MARKETING
Focus Questions:
General Electric was
formed from the business
ideas of inventor and
entrepreneur Thomas
Edison. Why do you
believe GE focuses on
innovation and new
product ideas in many of
its advertisements?
What image do you have
©GENERAL ELECTRIC
Starting a Business
The Importance of
Entrepreneurship
Economic role
Personal benefits
Characteristics of entrepreneurs
Entrepreneurs are focused and goal oriented.
Entrepreneurs are risk-takers.
Entrepreneurs want to achieve.
Entrepreneurs are independent.
Entrepreneurs have a high level of self-confidence.
Entrepreneurs are creative.
Do you want to be an entrepreneur?
Academic preparation
Communications skills
Math skills
Scientific skills
Using technology
Business skills
Business Opportunities
in Marketing
Promotion
Selling
Distribution
Pricing
Financing
Risk management
Marketing-information management
Product and service management
Market planning
Identifying Business
Ownership Opportunities
Identify a target market
Study the competition
Develop a unique offering
Proprietorship
Advantages of proprietorships
Disadvantages of proprietorships
Partnership
Advantages of partnerships
Disadvantages of partnerships
Corporation
Advantages of corporations
Disadvantages of corporations
Form of ownership
Name
Licenses and permits
Patents, copyrights, and trademarks
Building and equipment
Business records
Insurance needs
Personnel policies and procedures
Business forms and procedures