About This Chapter
Entrepreneurship and Small Business - Chapter Summary and Learning Objectives
Entrepreneurs are individuals who are willing to take financial or other risks to start and run their own businesses. Famous entrepreneurs have included Thomas Edison, Henry Ford, Steve Jobs and Oprah Winfrey. In this chapter, your instructors will introduce you to the challenging and potentially rewarding world of entrepreneurship and small business, including its significance to the American and international economies.
They will discuss the important differences between large and small businesses, as well as the special challenges faced by the latter in the global marketplace. You'll also find out what steps are involved in becoming an entrepreneur and how these individuals make a difference in the American economy. When you've finished watching the videos and taking the self-assessment quizzes, you should be able to:
- Understand what kind of candidates make good entrepreneurs
- Recognize the differences between small and big businesses
- Identify the reasons why some small businesses fail
- Understand the challenges and rewards of entering the global marketplace
- Know if you're ready to be an entrepreneur!
|What is an Entrepreneur? - Definition, Characteristics and Examples||Explain the reasons behind entrepreneurship and the attributes of successful entrepreneurs.|
|Small Businesses in the American Economy||Contrast small business with big business and then discuss the economic importance of small business.|
|Small Business in a Global Market||Recall the advantages and challenges faced by small businesses.|
1. What is an Entrepreneur? - Definition, Characteristics & Examples
Entrepreneurship is an important engine of growth in the economy. In this lesson, you'll learn about what an entrepreneur is and the key characteristics and skills that a successful entrepreneur possesses. Some examples of entrepreneurs will also be given.
2. Small Business in the American Economy
Nearly every business starts 'small.' In this lesson, you'll learn how a small business is defined, some characteristics of a small business, and the importance of them in the economy. You'll also learn why some small businesses fail.
3. Small Business in a Global Market
As the world moves closer to a global economy, more small businesses will look to expand into international markets. In this lesson, you'll learn about some of the advantages and disadvantages that small businesses face in a global market.
Earning College Credit
Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.
To learn more, visit our Earning Credit Page
Transferring credit to the school of your choice
Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.
Other chapters within the Business 100: Intro to Business course
- The Dynamic Business Environment
- Practicing Social Responsibility and Ethical Behavior in Business
- Economics and Business
- Business in Global Markets
- Forms of Business Ownership
- Managing and Leading in Business
- Leadership Styles in Business
- Organizational Management
- Business Production and Operations
- Workplace Productivity & Motivation
- Basics of Human Resources
- Managing the Employer-Worker Relationship
- Business Marketing Basics
- Product Development and Retailing
- Product Distribution & Supply Chain Management
- Pricing Strategy in Marketing
- Product Promotion in Business
- MIS Basics in Business
- Implications of Information Technology
- Risk Management in Business
- Accounting Basics
- Financial Management in Business
- Securities Markets and Business
- Money and Financial Institutions
- Studying for Business 100