Introduction to Entrepreneurship

Objectives
  • Explain entrepreneurship and discuss its importance.
  • Describe corporate entrepreneurship and its use in established firms.
  • Discuss three main reasons people decide to become entrepreneurs.
  • Identify four main characteristics of successful entrepreneurs.
  • Explain five common myths regarding entrepreneurship.
  • Explain how entrepreneurial firms differ from salary-substitute and lifestyle firms.
  • Discuss the changing demographics of entrepreneurs in the United States.
  • Discuss the impact of entrepreneurial firms on economies and societies.
  • Identify ways in which large firms benefit from the presence of smaller entrepreneurial firms.
  • Explain the entrepreneurial process.

Steps in the Entrepreneurial Process