LESSONSLESSONS
ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
Chapter 2Chapter 2WHAT SKILLS DO ENTREPRENEURS NEED?
2.12.1 Communication Skills
2.22.2 Math Skills
2.32.3 Problem-Solving Skills
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Lesson 2.1COMMUNICATION SKILLS
Develop good skills for writing, speaking, and listening.
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WRITING SKILLSEffective business lettersEffective business memos
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RULES FOR WRITING BUSINESS LETTERS1.1. Key all formal correspondence.
2.2. Spell names correctly and have the correct address.
3.3. Always date your business correspondence.
4.4. Use names and titles appropriately.
5.5. Be direct and positive.
6.6. Be persuasive and specific.
7.7. Avoid using fancy language.
8.8. Be polite.
9.9. Use an appropriate closing.
10.10. Proofread for spelling and grammatical errors.
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SPEAKING SKILLS Telephone conversationsMeeting with customers and suppliers
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TELEPHONE TIPS1.1. Speak clearly, and talk directly into the
receiver.
2.2. Be cheerful.
3.3. Always speak politely.
4.4. Think about what you are going to say before you make a call.
5.5. Take notes.
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MAKING THE MOST OF PERSONAL CONTACTS1.1. Shake hands and make eye contact with the
person you are meeting.
2.2. Show an interest in what the other person is saying.
3.3. Speak clearly.
4.4. Do not appear rushed or anxious to be somewhere else.
5.5. Thank the person at the end of the meeting.
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LISTENING SKILLS1.1. Focus your attention on the person who
is speaking.
2.2. Think about and try to understand what the other person is saying.
3.3. Ask questions to make sure you understand what the person is saying.
4.4. Take notes to confirm what you are hearing.
ENTREPRENEURSHIP: Ideas in Action © SOUTH-WESTERN PUBLISHING
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Lesson 2.2MATH SKILLS
Use basic math skills in business.
Complete sales transactions.
Calculate percentages for business purposes.
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BASIC MATH SKILLSAddition and subtractionMultiplicationAverages using division
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SALES TRANSACTIONSPurchase orders and invoicesSales taxSales slipsManaging a cash drawer
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Cash $348.62Checks 154.20
+ Credit sales 218.98
BALANCING THE CASH DRAWER
Total receipts $721.80– Refunds 21.47
Adjusted receipts $700.33– Opening cash 50.00
Actual receipts $650.33
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PERCENTAGES Growth rates Interest payments Exact interest method Ordinary interest method Markups and markdowns Discounts Due dates Last day for discount
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Lesson 2.3PROBLEM-SOLVING SKILLS
Use the six-step problem-solving model.
Recognize the importance of group decision making.
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USE A PROBLEM-SOLVING PROCESSDefine the problemGather informationIdentify various solutionsEvaluate alternatives and select the
best optionTake actionEvaluate the action
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GROUP PROBLEM SOLVINGBrainstorming Consensus-based decision making
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BRAINSTORMINGBrainstorming is a creative group
problem-solving technique that involves generating a large number of fresh ideas.