Welcome to Mira Costa College Business Administration Department

Welcome to Mira. Costa College Business Administration Department

Agenda • A little bit about business … • Business Options at Mira. Costa College • Exercise: You make the call! MCC Business Admin 2

What is “Business”? Business—buying and selling products and services o Product—something tangible that exists in nature or is made by people o Service—intangible work that provides time, skills, or expertise MCC Business Admin p. 3

What Is an Entrepreneur? • Employees work for someone else’s business. • Entrepreneurs start their own businesses and work for themselves. MCC Business Admin p. 4

Types of Businesses • Traditional: for-profit enterprise • Social entrepreneurship: forprofit enterprise with dual goals of profitability and social returns • Not-for-profit organization MCC Business Admin p. 5

Business Options at Mira. Costa College • Associate Degree: o o o Business Admin for Transfer Entrepreneurship Management Marketing Retail Management • Certificate of Achievement: o o o Entrepreneurship Management Marketing Retail Management Social Media for Business • Certificate of Proficiency: o Business Fundamentals; Entrepreneurship Fundamentals; Retail Assistant MCC Business Admin 6

© 2009 Cengage Learning. Atomic Dog is a trademark used herein under license. All rights reserved. Gregory Smithson Case Gregory Smithson, son of a successful business executive, grew up in a conservative family environment. He earned both a bachelor’s degree and an MBA from Ivy League schools. Using the MBA as a steppingstone, Gregory became a successful corporate executive, but he often thought of leaving the rat race to start a small business. Owning and operating a small inn seemed to Gregory to be the ideal life. MCC Business Admin 7

© 2009 Cengage Learning. Atomic Dog is a trademark used herein under license. All rights reserved. Gregory Smithson Case 1. What skills do you need and attributes should you have to successfully run a small inn (bed and breakfast)? 2. Evaluate Gregory’s qualifications, abilities, and potential for success. 3. If you were lending money to new entrepreneurs, would you back Gregory? Indicate why you would or why you would not do so. Be specific. MCC Business Admin 8

© 2009 Cengage Learning. Atomic Dog is a trademark used herein under license. All rights reserved. Brother’s Pharmacy Last year, one of your city’s 24 family-owned drugstores become part of the CVS chain. CVS regards itself as very competitive, specifically regarding price. Assuming that you own a small drugstore, answer the following questions: MCC Business Admin 9

© 2009 Cengage Learning. Atomic Dog is a trademark used herein under license. All rights reserved. Brother’s Pharmacy 4. If you own one of the 24 family-owned drugstores, what choices do you have given this new situation? 5. What informations do you need to make a decision? 6. If you decide to stay, what can you do to survive in this new and highly competitive arena? MCC Business Admin 10

Thank you! Mira. Costa College Business Administration Department