Common thread is that all of them must be able to handle risk to succeed.

Traits:› Serious about work› Like problem solving› Persistent and follow through when they

encounter obstacles.

› Responsible› Dependable› Risk-takers› Self motivated› Good communicators› Like working alone› Work long hours› Get along with others› Get bored quickly› Frustrated by item by item instructions› Like lists and go step by step

Active Entrepreneur Quiet Entrepreneur Follower Entrepreneur

Try just about anything Major risk takers When they fail they bounce right back

and try again.

Carefully prepare before starting

Like more information before taking a big risk.

Comfortable following the lead of others.

Enjoy some risk and seeing the results of their efforts.

Account for a large amount of the risk. Productive resources: any item of value

that is used to produce goods.› Money, oil, trucks, paper, pens, tables› Equipment, buildings, employees, soil, etc.

The resource is making a product or good, or performing a service.

someone, somewhere is willing and able to pay for the use of the resorce.

Four kinds of productive resources› Natural resources› Labor resources› Capital resources› Management resources

Anything provided by nature.› Soil› Water› Living organisms› Minerals

People whose skills, talents, interests, and intelligence are used for productive purposes.

Are human-made inputs that are used to make goods.› Machines, pencils, buildings, equipment,

tools› Money

Human resources whose talents, skills, interests, and intelligence are used to provide leadership and make decisions in the business.

May receive a share of the profits of the business.

Can be listed under labor or human resources in large businesses.

Is a resource. Used to make a good. Time has value. Wasting time is wasting resources.

Determine on hand resources and needed resources.

Obtaining resources at reasonable cost. Limitations are usually related to

capital.

Loans Silent partner Stock Rent or lease Defer payments Sell of assets

› Activity: define these terms page 34-35 add to your chapter 2 notes. Will be on quiz.

Doing business over the Internet. Goods bought and sold. Used to expand business Used in agribusiness to sell production

inputs, as well as crops and livestock.› Examples: satellite auctions, ebay, etc.

Set up a domain name: URL where your web site will be found.› www.NetworkSolutions.com› $70.00 two years, annually thereafter

Create a web pageWeb host: a service that makes a wed site

available to the public. Fees may apply!

Advertise your web site:› Newspapers› Magazines› Billboards› TV

Easy for customers to purchase items.Security and Prompt shipment

In groups of two Create a E-Commerce agribusiness What will be your e-commerce business?

Step 1: Identify a new domain name: search www.NetworkSolutions.com 10 pointsStep 2: Create a web page: must be attractive, simple, description of business, list of products sold and prices, owners name and contact information.30 pointsStep 4: identify your potential web host. 10 points

Print your web page and attach a copy to your e-commerce business report 5 points(may use web page templates available on the internet) www.wix.com

How will you obtain customers? Report must be typed 10 points