Entrepreneurship is the process of starting new businesses, generally in response to opportunities. For instance, Fred Carl, founder of the Viking Range Corporation, saw an opportunity to create an appliance that combined the best features of commercial and residential ranges. Many people think entrepreneurial ventures and small businesses are the same, but they are not. Entrepreneurs create entrepreneurial ventures-organizations that pursue opportunities, are characterized by innovative practices, and have growth and profitability as their main goals. Examining entrepreneurship from the perspective of the four managerial functions: planning, organizing, leading and controlling:
What are the challenges faced by entrepreneurs? What are some solutions to these challenges/issues? (2-4 pages)
Students will complete a written assignment designed to test their knowledge of motivation and communication techniques. The problem will present a dilemma that students must resolve. In so doing they will need to offer solutions and strategies. They will be evaluated on their overall understanding of the topic matter and their ability to link the issues presented to relevant course material. They will also be evaluated on their ability to offer effective solutions to the issue or dilemma presented.