3
Entrepreneurship
Introduction
In today’s fast-paced economy, investigating multiple career options is more challenging
than ever. Entrepreneurship helps you meet that challenge. By providing a comprehensive
framework to learn about a career as an entrepreneur, you can explore what it is like to be a
business owner.
One of the major goals of this text is to provide direction to create a business plan. To
help accomplish this, each chapter has a project-based activity designed to lead you through
this process. A template is available on the companion website to assist in the writing of a
customized business plan.
It is important to understand how our free enterprise system plays a role in business.
Each unit starts with an Entrepreneurs and the Economy feature article discussing important
economic concepts relating to entrepreneurship. In addition, a separate Economic Glossary is
included for easy reference.
The step-by-step narrative leads you through selecting an idea for a business, social and
ethical responsibilities, start-up options for the new business, operating the business, and
exiting the business. Separate chapters on funding the business and financial management of
the business add clarity to the two separate accounting functions.
A new learning tool has been included to help you study. QR codes are provided to use
with your smartphone to go directly to selected text activities. In addition, the G-W Learning
mobile site makes it easy for you to study on the go!
About the Authors
Brenda Clark has taught marketing for over 28 years for the Jenison, Michigan, Public
Schools. She currently serves as CTE Director, marketing instructor, SBE advisor, and DECA
Advisor. Jenison DECA members consistently receive state and national recognition. In
Michigan, she has worked with marketing, business, and hospitality instructors on curriculum
development. She was a national trainer for the MBA Research Model Program for five years
and has consulted with many states on marketing education. She has taught at the community
college level, and is currently teaching at the university level. She serves as a consultant for
MBA Research working with teachers and administrators across the country. Her program,
the Jenison School Based Enterprise, Cat’s Corner, was named Business of the Year by the
Jenison Chamber of Commerce and currently holds gold certification for DECA School Based
Enterprises. Brenda earned her bachelor degree in marketing education, a master degree in
educational leadership, and an EdD in educational leadership with a concentration in career
and technical education from Western Michigan University.
Judy Commers has been a marketing teacher-coordinator and DECA advisor for Indiana
Public Schools for over 31 years. For over 14 years, she has supervised a DECA School-Based
Enterprise. She also teaches business and marketing at the community college level and is an
instructor for the Indiana Marketing Academy, which teachers attend for college credit. She
received her bachelor degree in business and distributive education and an MAE in vocational
business and distributive education from Ball State University.