Reference no: EM133101770

In this chapter, entrepreneurship is defined as the willingness to take risks and the knowledge and ability to use the other factors of production efficiently. An entrepreneur is a person who risks time, effort, and money to start and operate a business. Often, people believe that these terms apply only to small businesses. However, employees with entrepreneurial attitudes have recently advanced more rapidly in large companies as well.

1. Go to the local library or use the Internet to research how large firms, especially corporations, are rewarding employees who have entrepreneurial skills.

2. Find answers to the following questions:

3. Why is an entrepreneurial attitude important in large corporations today?

4. What makes an entrepreneurial employee different from other employees?

5. How are these employees being rewarded, and are the rewards worth the effort?

6. Write a two-page report that summarizes your findings.

In this chapter, business was defined as the organized effort of individuals to produce and sell, for a profit, the goods, and services that satisfy society's needs. In what ways is Warby Parker satisfying the needs of its customers?

Given that Warby Parker's original idea was to sell online to minimize distribution costs and keep prices low, they now have opened over 50 stores in 22 U.S. states. Do you agree with its more recent decision to open traditional retail stores?

Imagine you wear eyeglasses and have just broken your last pair of glasses. Would you purchase glasses from Warby Parker's online store or go to a traditional retailer? Explain your answer.