Intro to Business

1. WATCH: SONIC: http://www.viddler.com/embed/26429e13/?f=1&autoplay=0&player=full&disablebranding=0 (Links to an external site.)Links to an external site. Before watching this clip, review the advantages and disadvantages of the three major forms of business ownership: sole proprietorships, partnerships, and corporations. Review franchising as a form of business ownership and think about why people choose to franchise rather than start a business of their own. Major points in this clip: Different forms of business ownership How franchise agreements work TO DO: What does it take to become a sole proprietor? What are the advantages of this form of business ownership? How does a limited liability partnership differ from a general partnership in terms of liability? Why would someone choose to franchise? What are the advantages to owning a franchise? 2. WATCH PILLOWPETS: http://www.viddler.com/embed/f690c2ef/?f=1&autoplay=0&player=full&disablebranding=0 (Links to an external site.)Links to an external site. This case is at the end of chapter 6 on page 180. Based on what you have read and watched thus far, what do you think is necessary to be a successful entrepreneur. How might one prepare to be a successful entrepreneur? Jot down some notes and determine if the interviews in this clip confirm your perceptions. Major points in this clip include: (1) entrepreneurship; (2) personality traits of entrepreneurs; (3) factors to being a successful entrepreneur; (4) types of entrepreneurship; and (5) small business development TO DO: In your opinion, what is the most important characteristic that an individual needs to be a successful entrepreneur? What is the importance of small business in the United States? What is an intrapreneur? How does it differ from an entrepreneur? 3. EXPLORE: Select one of the following URLs and explore the available information: https://www.sba.gov/tools/local-assistance (Links to an external site.)Links to an external site. https://www.sba.gov/ (Links to an external site.)Links to an external site. http://www.nfib.com/why-nfib/?gclid=CIj8sZ34w9YCFUK5wAodEU0Kdg (Links to an external site.)Links to an external site. http://www.taxes.ca.gov/small_business_assistance_center/ (Links to an external site.)Links to an external site. https://www.export.gov/welcome (Links to an external site.)Links to an external site. https://www.dol.gov/oasam/programs/osdbu/sbrefa/ (Links to an external site.)Links to an external site. OR https://www.entrepreneur.com/# (Links to an external site.)Links to an external site. TO DO: After exploring the URL/website you selected write a summary of (1) what you found; (2) identify three things you liked, (3) three that you didn’t like; AND (4) explain whether you would or would not tell someone else about the site (and why or why not) and (5) why the site would be beneficial in the future OR why it would not be.