Module 1: The Role of Small Business
Overview:
In this first of three lessons for the future entrepreneur, we will examine
the definition of entrepreneurship and small business. We will also provide
an overview of the fascinating past and present of small business.
Goal:
Provide the future entrepreneur with an overview of small business and
entrepreneurship, characteristics of an entrepreneur, and a general discussion
of the importance of small business in America.
Objectives:
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Understand perceptions and definitions of entrepreneurship. |
| • |
Understand the definitions of “small business” and why
this is important. |
| • |
Identify major characteristics of an entrepreneur. |
| • |
Learn about the role small business plays in the US. |
Overheads:
| • |
1-A What is
an entrepreneur? |
| • |
1-B Definition
of small business. |
| • |
1-C Identify
major characteristics of an entrepreneur. |
| • |
1-D The role
of small business in America. |
Activities:
1-1 (PDF)-
What is an entrepreneur? What is a “small business”
| • |
Ask students to write down their definition of an entrepreneur.
Consider reacting to overhead 1-A as a starting point. |
| • |
Definition of small business. |
1-2 (PDF)
– The definition of a small business.
| • |
Next, ask students to write down an example of a small business
(e.g., the dry cleaner down the street, a family business). |
| • |
Go around the classroom and ask each student to share their example
of a small business. |
| • |
Homework: On the SBA website, look up the size classification of
the business shared in the class exercise. Report back in next class. |
1-2a (PDF)
– Why does the definition of a small business matter?
| • |
PART 1: Share examples of two businesses with students and ask them
to determine the maximum allowable size of the business according
the SBA’s NAICs chart. |
| • |
PART 2: Have the students examine additional information on the
two businesses in the exercise to determine if the business size is
an important factor. |
| • |
Homework: Students observe 3 businesses on the way home and look
up size classification on SBA website. These three businesses can
be added to list of businesses from discussion in exercise 1-1 for
a cumulative homework exercise. Report back in next class. |
| • |
Answer Key |
1-3 (PDF)
- Identify major characteristics of an entrepreneur.
| • |
Have students review the text/Scarborough list of entrepreneurial
traits and the T-SET list of traits. |
| • |
Students pick three traits with which they identify. Students also
pick three areas in which they would like to improve. |
| • |
Ask students to pick one of each, and report out to class. |
1-3a (PDF)
– Your Future Entrepreneurial Passion.
| • |
Have students think about and list one to three areas about which
they are passionate. |
| • |
Have students write down why they are passionate about this area. |
| • |
Students can share one or all interest areas with class. |
| • |
Students keep list for use in Module 2 (developing interest area
into a business idea). |
1-4 (PDF)
- Role of small business plays in America.
| • |
Provide list of small business statistics to class and have them
pick out which ones are “false”. |
| • |
Explain that only one answer is false. |
| • |
Lead a discussion on the impact of small business in their every
day lives. |
| • |
Supplement |
| • |
Answer Key |
1-5 (PDF)
– A culture of entrepreneurship
| • |
Students write 2-3 sentences on their interpretation of Alexis De
Tocqueville quote. |
| • |
Lead a discussion on the various interpretations. |
1-6 (PDF)
Thinking Ahead - Preview of Module 2
| • |
Homework: Have students refer to NFIB's 2003 Small-Business Policy
Guide (Chapter 4, Exhibit 3.4: link http://www.nfib.com/object/2753115.html)
for some additional motivations for starting a business. |
| • |
Answer Key |
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