Entrepreneurship

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Session One: What Is Entrepreneurship?Entrepreneurial Leadership Program Facilitators Guide

Session One

What Is Entrepreneurship?Overview: Entrepreneurship is about seeing opportunities and bringing about change. Aspira and our corporate partner, Morgan Stanley, believe that true opportunities lie in our young people. Aspirantes demonstrate every day that they have the creativity and the motivation to change their world. Through this course, we hope to provide you with more tools to see possibilities and succeed in whatever you choose. Aspira supports business education because we believe that the Latino community will not move forward as long as it remains poor. More Latinos need to embrace nancial opportunities, both in their careers and in their personal lives. Imagine how the world would change if more Latinos held high-powered positions in companies or owned their own businesses. During the next ten sessions, you will learn about leadership. More importantly, you will start to see that you already have many leadership qualities. We will discuss the fundamentals of being successful in business, including attitude and goal-setting, as well how to put yourself on the right educational track for a solid career in business. However, this class is not just talk. This will be a handson experience, where you will have a chance to develop a successful business plan and actually start your own business. You will also learn about investing and practice managing your own stock portfolio. You will visit the nancial center of your city, tour the trading oor, see the ofces of major investment banks, and visit the campuses of nearby business programs. You will have a chance to mentor with an investment banker and intern at a local small business or at a major corporation. This class is about you. We want it to be driven by the students. If you dont like something or see something missing, speak up! You have a chance to recommend activities, trips and other opportunities. Aspira Business Clubs are being created in four cities: New York, Philadelphia, Wilmington (DE) and Chicago. Each group will be full of talented young people who have already shown strong initiative to take on new challenges while having fun. We hope you decide to communicate with the other Aspira Business Clubs to share ideas and maybe plan to meet.

ASPIRA/Morgan Stanley Entreprepeurial Leadership Initiative

Session One 1

Session One: What Is Entrepreneurship?Entrepreneurial Leadership Program Facilitators Guide

Just like starting a business, being a part of this class involves commitment and hard work. Because there is a lot of information to cover, you will have to work outside of class to cover the background reading and research, as well as to develop plans for your own business. We want this experience to be rewarding for you, one that may change the course of your life. Are you ready?

Session Goals:The introductory session to the Entrepreneurial Leadership Course and the rst meeting of the ASPIRA Business Club should serve to welcome the participants, break the ice, discuss the broad outline of the course and the schedule of activities, and get feedback from the participants in terms of what they want to get out of the course. Section activities at a glance:Suggested Activities Time Objective

presentation

1.1 Introduction to the Course: Objectives/ Format/Goals discussion

15

Present students with the class format and schedule; discuss what the course will cover; (optional) explain planning exercise. Give an overview of how entrepreneurship is different from other careers. Discuss the reasons that entrepreneurship education benets young people and the problems it can help solve. Solicit input from students on what they have observed about entrepreneurship. Dene case studies and explain their use. Detail how journals will be used throughout course. Discuss this weeks assigned text. Review the major lessons and answer any questions. Determine how students can put the information to use for their own entrepreneurship plans. Provide overview of next sessions topic. Clarify time and meeting place of next activity. Assign background reading.

book talk presentation

1.2 What is Entrepreneurship and why should preview we learn about it? discussion

20

book talk interaction presentation discussion

presentation

1.3 Class Discussion: preview Review preliminary research, current events and case studies discussion 1.4 Discussion of Background Readingpreview

25

interaction book talk preview

25

book talk presentation discussion

interaction

1.5 Session II Preview and Assignmentsinteraction preview

10

book talk

ASPIRA/Morgan Stanley Entreprepeurial Leadership Initiative

Session One 2

interaction

Session One: What Is Entrepreneurship?Entrepreneurial Leadership Program Facilitators Guide

Activity 1.1: Course Overviewpresentation discussion

Time: Purpose:

15 minutes

Present students with the class format and schedule; discuss what the course will cover; (optional) explain planning exercise.Materials Needed: preview Chalkboard, overhead and transparencies, or ip chart. book talk Copies of Session 1 Handouts for each student. Steps to Cover: 1) Welcome the students.

Explain your role as the Aspira Business Club (ABC)

facilitator.2) Explain the overall course format,interaction

i.e. There will be a total of 10 classroom sessions. Indicate the regular meetings time/place and how students will be informed of any changes or additions to the meeting schedule. Discuss the teaching methods (detailed in the Teaching Entrepreneurship Guide): 1) Facilitator presentation 2) Student handouts 3) Class discussion 4) Outside reading 5) Regular research 6) Journal keeping 7) The Stock Market Game 8) Guest speakers 9) Career Panel 10) Mentors 11) Developing a business plan (last 3 sessions) 12) Activities and trips 13) Internships

3) Explain Session I format

a) b) c) d) e)

Facilitator Presentation Class discussion of entrepreneurship; preliminary business ideas Discuss case studies from students observations Discussion of pre-class reading: Rules for Revolutionaries Assignments; Preview of Session 2

ASPIRA/Morgan Stanley Entreprepeurial Leadership Initiative

Session One 3

Session One: What Is Entrepreneurship?Entrepreneurial Leadership Program Facilitators Guide

Activity 1.2: Presentation Topic What is entrepreneurship and why should we learn about it?presentation discussion

Time: Purpose:

20 minutes

Give an overview of how entrepreneurship is different from other careers. Discuss the reasons that entrepreneurship education benets young people and the problems it can help solve.book talk preview

Materials Needed:

Chalkboard, overhead and transparencies, or ip chart.

Facilitator Presentation Discussion Notes:interaction

What is an Entrepreneur? Entrepreneur is actually a French word that means undertake. The English understanding of this term is someone who wants to start a business or enterprise.

Entrepreneurs are sometimes seen as people of very high aptitude who pioneer change. However, a basic denition is that anyone wanting to work for him or herself is an entrepreneur.

Websters denes Entrepreneur as One who organizes, operates and assumes the risk in a business venture in expectation of gaining the prot. It is common to differentiate between an entrepreneur and a small business owner. Entrepreneurs usually use innovation to generate higher prots during a shorter period of time by assuming more risk. Small business owners may found businesses or organizations that grow more slowly but more stable rate. Entrepreneurship can be described as the search for new products, new production methods, new markets and new forms of an organization.1 It is based on innovation and the desire for change. Entrepreneurship is looking at the world that way you want it to be, rather than the way it is. Entrepreneurs may be responsible for founding many different types of organizations:

1

Austrian economist Joseph Schumpteters denition, according to Quick MBA

ASPIRA/Morgan Stanley Entreprepeurial Leadership Initiative

Session One 4

Session One: What Is Entrepreneurship?Entrepreneurial Leadership Program Facilitators Guide

For-prot: A for-prot or commercial venture is created and remains viable due to the desire to sell something for a prot. This product may be a good or a service, described below. Non-prot: A non-prot venture is created and remains viable as a result of a desire to improve the quality of life for a group. A person founding a non-prot may be considered a social entrepreneur, since he or she is motivated by the desire to have an impact on society instead of earning money. Non-prots often dedicate themselves to social issues such as environmental concerns, animal rights, unemployment, health care, and advocacy for underserved groups such as Latinos, senior citizens and women. Large scale and small scale. Entrepreneurial activity may take place within a large company or within the home, school, church or local community organization. Service production and goods production. Entrepreneurs can be at work providing a service such as delivering food, mowing lawns, developing a technology or they can be at work producing and selling a product such as hockey sticks, software, tires, or advertising brochures. Local/national/international. Activity can take place at home, in school, in the state, within the United States, or internationally. Students need to be aware of changes resulting from decisions of the North American Free T