Why is the presence of small businesses important for large businesses?
Small businesses provide jobs to half the population, providing them money to buy things big businesses provide. Small businesses provide critical services to big business (as suppliers, subcontractors, etc.). Small businesses can outperform large businesses in some ways, and big businesses contract with small businesses to provide these superior services. In these ways, big businesses need a large population of small businesses to support them. Take 10 businesses that operate in your community and categorize them in the appropriate type of overall growth strategy. Why do you put them there?Many people think of the United States as one of the most entrepreneurial countries in the world. Are there other countries with higher levels of entrepreneurship? Name two and explain why their levels of entrepreneurships might be higher than that of the United States.
Those selecting a country with a factor-driven economy, such as Pakistan, Jamaica, and Venezuela, students may cite the need to break out of very low wage jobs. In an efficiency-driven economy, such as Russia, Brazil, and China, the growth of a middle class is important.How does the story of Jim McKelvey reflect the key ethical idea of this chapter, “Do well. Do good.”
Each of Jim’s businesses were created to solve a social problem or allow others to gain empowerment. His opportunity-driven entrepreneurship is evident in Jim’s problem-solving efforts in starting Square and LaunchCode. Jim says: “I have never really had a career, just a series of problems that I care about in different areas of my life.”Put this search into Google to find entrepreneurs from your school: entrepreneur and [your school name] site:linkedin.com. Look at the first 100 names and see if you notice any patterns about what kinds of businesses they run. Your instructor might give you other aspects of their lives to look for.
This exercise is can be done as a class-wide activity or by breaking the students into smaller groups, or even done individually. Consider asking them to look for companies started using crowdfunding like Kickstarter or P2P lending, like Upstart. You may also have them look to see if this is the first company the person has started or if they are serial entrepreneurs, starting many businesses. You can ask the students to look for elements of the BRIE model. Students may notice how many new jobs these businesses have created, or new ideas they have marketed, but you could ask them to look for possible opportunities to work with larger businesses, such a software developer working with Microsoft. Are there new markets the business is not currently taking advantage of, and if so, why does the student think the company is not taking those advantages?
Can you find examples of corporate, social, and independent entrepreneurs in your town? Are there examples of people who have done more than one type of entrepreneurship in their lives?
Examples will vary by area of the country. Look for large businesses who host business incubators for corporate entrepreneurs, for example.usa.gov/state-business Pick a state and make a list of programs that might be worth looking into as you develop your business idea.
Among organizations worth noting are the local (or closest) branches of the Small Business Development Center, the SBA office, the closest SCORE chapter, the secretary of state’s office (and their local branch or satellite), the state department of economic development (and their closest office). If you are in a rural area, the USDA Extension Service or the state extension office might offer some of the same support services as the SDBC’s in more urbanized areas. If the school or campus offers help, make sure the students are aware of it. If you have students interested in exporting, check out the Commerce Department’s export.gov site.
As students begin to veer away from government sites, it probably is a good idea to make sure they know how to evaluate websites as to the quality of their material. In small business, there are a lot of websites that say they offer expertise, but the quality can vary dramatically. Your school’s librarian probably has a handout you can use, or you can use this Google search to find some good resources: “evaluating websites” site:.edu
< >Look at the local newspaper’s website, or the bizjournals website bizjournals.com/ for the paper in your region. Use the terms entrepreneur and small business owner to find articles talking about local entrepreneurs. From this, compile a list of prospective local small business heroes and heroines to serve as role models and prospectors for local sources of help.
Small businesses provide jobs to half the population, providing them money to buy things big businesses provide. Small businesses provide critical services to big business (as suppliers, subcontractors, etc.). Small businesses can outperform large businesses in some ways, and big businesses contract with small businesses to provide these superior services. In these ways, big businesses need a large population of small businesses to support them. Take 10 businesses that operate in your community and categorize them in the appropriate type of overall growth strategy. Why do you put them there?Many people think of the United States as one of the most entrepreneurial countries in the world. Are there other countries with higher levels of entrepreneurship? Name two and explain why their levels of entrepreneurships might be higher than that of the United States.
Those selecting a country with a factor-driven economy, such as Pakistan, Jamaica, and Venezuela, students may cite the need to break out of very low wage jobs. In an efficiency-driven economy, such as Russia, Brazil, and China, the growth of a middle class is important.How does the story of Jim McKelvey reflect the key ethical idea of this chapter, “Do well. Do good.”
Each of Jim’s businesses were created to solve a social problem or allow others to gain empowerment. His opportunity-driven entrepreneurship is evident in Jim’s problem-solving efforts in starting Square and LaunchCode. Jim says: “I have never really had a career, just a series of problems that I care about in different areas of my life.”Put this search into Google to find entrepreneurs from your school: entrepreneur and [your school name] site:linkedin.com. Look at the first 100 names and see if you notice any patterns about what kinds of businesses they run. Your instructor might give you other aspects of their lives to look for.
This exercise is can be done as a class-wide activity or by breaking the students into smaller groups, or even done individually. Consider asking them to look for companies started using crowdfunding like Kickstarter or P2P lending, like Upstart. You may also have them look to see if this is the first company the person has started or if they are serial entrepreneurs, starting many businesses. You can ask the students to look for elements of the BRIE model. Students may notice how many new jobs these businesses have created, or new ideas they have marketed, but you could ask them to look for possible opportunities to work with larger businesses, such a software developer working with Microsoft. Are there new markets the business is not currently taking advantage of, and if so, why does the student think the company is not taking those advantages?
Can you find examples of corporate, social, and independent entrepreneurs in your town? Are there examples of people who have done more than one type of entrepreneurship in their lives?
Examples will vary by area of the country. Look for large businesses who host business incubators for corporate entrepreneurs, for example.usa.gov/state-business Pick a state and make a list of programs that might be worth looking into as you develop your business idea.
Among organizations worth noting are the local (or closest) branches of the Small Business Development Center, the SBA office, the closest SCORE chapter, the secretary of state’s office (and their local branch or satellite), the state department of economic development (and their closest office). If you are in a rural area, the USDA Extension Service or the state extension office might offer some of the same support services as the SDBC’s in more urbanized areas. If the school or campus offers help, make sure the students are aware of it. If you have students interested in exporting, check out the Commerce Department’s export.gov site.
As students begin to veer away from government sites, it probably is a good idea to make sure they know how to evaluate websites as to the quality of their material. In small business, there are a lot of websites that say they offer expertise, but the quality can vary dramatically. Your school’s librarian probably has a handout you can use, or you can use this Google search to find some good resources: “evaluating websites” site:.edu
< >Look at the local newspaper’s website, or the bizjournals website bizjournals.com/ for the paper in your region. Use the terms entrepreneur and small business owner to find articles talking about local entrepreneurs. From this, compile a list of prospective local small business heroes and heroines to serve as role models and prospectors for local sources of help.