What is Entrepreneurship?

What is Entrepreneurship?

Entrepreneurs can change the world…

Video

What do we know?Student Task:In your notes, brainstorm the

following:

What is an Entrepreneur?What do Entrepreneurs do?Why do people become

Entrepreneurs?

An Entrepreneur

Someone who perceives an opportunity and creates an organization to pursue it.

Bygraves

NotesThe word "entrepreneur" is derived from

the French word "entreprendre," meaning “to undertake.”

Entrepreneur – a person who undertakes and operates a new venture in order to satisfy needs and/or wants that exist in society.

Venture – what the entrepreneur does. In many cases, the venture is a business carried out to make a profit.

Needs -essential for human survival/health. Can be classified into:

Real (basic) or Physical needs (such as water, food, sleep, etc.)

ANDPsychological needs (emotional ones, such as

love, companionship, security, etc.)

Wants -human desires that are not essential for human survival or health

they make people feel happyex. getting highlights in your hair, or

buying an iPod

“Famous” Entrepreneurs Let’s take a moment to

study some successful Entrepreneurs.

As you view each of the following Entrepreneurs answer the following:

a) Who is the Entrepreneur?b) What was each

Entrepreneur’s venture?

1. Name:________________

Venture:_______________

1. Bill Gates

Microsoft

2. Ray Kroc

3. Oprah Winfrey

4. Sam Walton

5. Thomas Edison

6. Lawrence Page and Sergei Brin

7. George de Mestral

Velcro

8. Tim Berners-Lee

The Internet

9. Mark Zuckerberg

10. Howard Shultz – $ 1.1 Billion

11. Jeff Bezos - $4.4 Billion

12. Chad Hurley & Steve Chen

YouTube Founders

Assignment

In your binders, list the Entrepreneurs from “most” to “least” important with regard to what each has “given” to society.

Be prepared to defend your decision with the class.