ENTREPRENEURSHIP
What do they have in common?
ENTREPRENEURS (‘ɒntrəprə’nɜr/)
ENTREPRENEURSHIP, n.
ENTREPRENEURIAL, adj.
ENTERPRISE, n.
Fill in the missing words....
• ___________are innovative and
determined people and businessmen.
• ________should be a vital part of any
state’s economy.
• He’s got an __________ spirit and is not
afraid to launch another start-up.
• She set up a very successful __________.
• Entrepreneurs are innovative and
determined people and businessmen.
• Entrepreneurship should be a vital part of
any state’s economy.
• He’s got an entrepreneurial spirit and is
not afraid to launch another start-up.
• She set up a very successful enterprise.
What are the easiest routes to making your first
million?
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Intelligence?
Hard work?
Inheritance?
An outstanding education?
Luck?
Risk?
Good looks?
I.Q.?
1.
2.
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4.
5.
6.
Name more entrepreneurs you know.
What qualities do entrepreneurs need?
What do you need to start a business?
How can start-ups be funded?
Why is a business plan important for a start-up?
What advantages and risks are associated with
privately run businesses?
7. Give five reasons why people set up a business.
8. What may be advantages and disadvantages of
running your own firm?
9. Is there any difference between an entrepreneur
and a manager?
• Read the text “Entrepreneurs and starting a new business”
and match the subheadings with the appropriate section
• Answer again the questions from the slide
• Read the definitions and find the appropriate term
• Pairs read at rendom in turn either definition or a word and
provide the answer
Fill in the missing verb from the text. Use the
correct form of the verb.
1.
2.
3.
4.
5.
6.
7.
8.
9.
It’s good to find out what is missing on the market to f_____ in a gap.
Your lawyer may help you d ___________ the necessary documents.
Does the budget of the company enable us to hire a specialist to d_______
market research?
Is m_________ a profit your only motive to set up a company?
How would you r______ finance for an entrepreneur who would like to run a
Bed & Breakfast?
A good business plan should show the investor your ability to p_____ ______ a
loan.
If you like to play computer games, your hobby may e______ into a future IT
enterprise.
When there is only one owner in the company all the reponsibility for running a
business f_______ on him/her.
The owner of a new start-up needs to t_____ a risk and cope with finacial
challenges.
• PAIR WORK
• Write down 10 tips or/and rules for a future
entrepreneur ( on how to keep and grow his/her
business)
• Watch a short film and compare your list with the top
10 rules provided by the leading world entrepreneurs
Entrepreneurs
• Richard Branson
• Pierre Omidyar
• Mark Cuban
• Jerry Weintraub
• Jay Z
• Michael Dell
• Jeff Bezos
• Elon Musk
• Steve Wozniak
• Howard Schultz
Businesses
• Apple Inc.
• Weg
• Broadcast.com
• Virgin
• Tesla Motors
• Musician (Rap)
• eBay
• Amazon.com
• Starbucks
• Dell
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Richard Branson
Pierre Omidyar
Mark Cuban
Jerry Weintraub
Jay Z
Michael Dell
Jeff Bezos
Elon Musk
Steve Wozniak
Howard Schultz
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Virgin
eBay
Broadcast.com
Weg
Rapper
Dell
Amazon.com
Tesla Motors
Appče Inc.
Starbucks
• https://www.youtube.com/watch?v=0AH8VAqljL8
BUSINESS PLAN
• A business plan is a formal statement of
business goals, reasons they are attainable,
and plans for reaching them. It may also
contain background information about the
organization or team attempting to reach
those goals.
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Source: Wikipedia
WHY IS IT IMPORTANT TO HAVE A BUSINESS PLAN?
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To set your priorities
To avoid big mistakes
To establish goals
To measure your performance
To raise funds
To help manage cash flow
To support a strategic exit
The Business plan
• Sort out the questions under the
corresponding headings of the business plan
• Do the exercises that follow
• Do you know any successful entrepreneurial
stories from Croatia?
• What were the problems these entrepreneurs
had to deal with?
• How did they raise money for their start-ups?
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STUDENTS’ ENTRPRENEURSHIP IN CROATIA
A chocolate dream
Dubravko Vitlov, Zadar
• PAIRS: Student A reads article A. Student B
reads Article B.
• Make notes in the table below.
Watch a short film.
• https://gust.com/companies/teddy_the_guar
dian
Sort out the phrasal verbs and find all word partnerships
with a business and business. Then fill in the gaps in the
sentences below.
turn smth into
go out of
found
put somebody out of
run
set up
do
close down
go into
have
start
____________
___________
_______
___________
_______
business
____________
_____________
____________
_______________
____________
a business
____________
• The company _______ business with China manufacturing most of
the clothes in Asia.
• She has ________ a business as a hairdresser.
• After being out of work for several years, she decided to ________ a
small business.
• When he left school, he _______ a business with his brother.
• If you __________ business privately it will mean a lot of hard work.
• Only few people may say that they successfully managed to _____
their hobbies _______ a business.
• The government introduced new regulations which unfortunately
made a lot of start-ups ___________ business.
• The company is ___________ its London office due to reduced
business operations.
• The company DOES business with China manufacturing most of the
clothes in Asia.
• She has SET UP a business as a hairdresser.
• After being out of work for several years, she decided to START a
small business.
• When he left school, he RAN a business with his brother.
• If you GO INTO business privately it will mean a lot of hard work.
• Only few people may say that they successfully managed to TURN
their hobbies INTO a business.
• The government introduced new regulations which unfortunately
made a lot of start-ups GO OUT OF business.
• The company is CLOSING DOWN its London office due to reduced
business operations.
win
make (2x)
do
launch
take on
invest supervise expand set up
go out of improve
Renata Ivić (1) ________ a small business providing childcare services
a few years ago. She (2) ________ a loss at the beginning, but after
some time she started (3) _________ a profit. Since the recession
started, a lot of small firms (4) _____________ business. Last year
Renata (5) ________ a contract to provide a childcare service for a
well known shopping centre chain. She (6) _________ staff and (7)
________ her business. Her sales figures (8) ________ and now her
firm’s annual turnover is more than ten million kunas.
When people ask her what the secret of her success is, she says she
has always been very cautious. Whenever she plans to (9) _______ a
new childcare service on the market, she (10) ______ market
research. Besides, she (11) ________ in the training of her staff and
personally (12)________ the business. However, a successful
business, Renata says, means years of hard work, determination to
overcome obstacles and last but not least, good luck.
win
make (2x)
do
launch
take on
invest supervise expand set up
go out of improve
Renata Ivić (1) SET UP a small business providing childcare services a
few years ago. She (2) MADE a loss at the beginning, but after some
time she started (3) MAKING a profit. Since the recession started, a
lot of small firms (4) HAVE GONE OUT OF business. Last year Renata
(5) WON a contract to provide a childcare service for a well known
shopping centre chain. She (6) TOOK ON staff and (7) EXPANDED her
business. Her sales figures (8) IMPROVED and now her firm’s annual
turnover is more than ten million kunas.
When people ask her what the secret of her success is, she says she
has always been very cautious. Whenever she plans to (9) LAUNCH a
new childcare service on the market, she (10) DOES market research.
Besides, she (11) INVESTS in the training of her staff and personally
(12)SUPERVISES the business. However, a successful business, Renata
says, means years of hard work, determination to overcome obstacles
and last but not least, good luck.
Turnover profit sources wages funds
equipment skills competition savings
premises
advertise price
Your business plan will include the ______ of finance which
are either your personal ______ or borrowed _____ from
private investors or a bank.
It will state the location of the _____, the ______, method
and cost of production, the product’ design, its ____ and
your employees’ required ______ and _____.
It is good to include the size of the market, who will buy the
products, existing ______ as well as how to promote and
_____ the business.
Last but not least, a good business plan must include the
calculation of a ______, costs and expected ____.
Your business plan will include the sources of finance which
are either your personal savings or borrowed funds from
private investors or a bank.
It will state the location of the premises, the equipment,
method and cost of production, the product’ design, its
price and your employees’ required skills and wages.
It is good to include the size of the market, who will buy the
products, existing competition as well as how to promote
and advertise the business.
Last but not least, a good business plan must include the
calculation of a turnover, costs and expected profit.