Completion of Accounting Chapter Summaries
SuzyRubenstein
chapter_2.doc1
ACC 201: Essentials of Accounting
Your Name: Please write extra notes in red Ink.
Chapter 2: Why don’t you become and Entrepreneur?
1. Why do people want to get rich and get there fast?
· People want to get rich because money can buy the things that they desire, and happiness results when desires are fulfilled.
· Lasting happiness cannot be achieved by money, or can it?
2. Money can certainly give immediate happiness but can it give the lasting happiness that our hearts long for?
· There is little scientific evidence to prove that money provides lasting happiness.
· Money can allow for opportunities to open up
· Money can also allow for room for regrets
· Happiness that lasts comes from experiences more than material goods
3. What is a better way to ensure happiness in the long-term?
· Do a career in line with your DNA!
· D = Desires- If your career is in line with your deep down desires, you will be motivated.
· Making money for doing what you love is SO important
· N = Needs - If your career meets needs in the world, you will feel good about what you do.
· Be proud of what you do!
· A = Assests - If your career utilizes your top most assets, you will be good at what you do.
· What makes you unique?
4. What lessons from good to great companies confirm this approach to happiness?
Hedgehog Concept
Fox and Hedgehog
The difference between good and great
· Keep your ego strong
· Don’t underestimate anyone or anything
· Master your art, pursue what you are good at because everyone has different strong points
· Know the one thing that is cut out for you… find your “spike”
Borrowed from the book: Good to Great Organizations by Jim Collins
5. Is your current career plans in line with your DNA? YES – i hope to pursue my major passion NO
6. Circle the Mountain (N) in society that you and your partner Desire to see moved?
Family Education Arts & Entertainment Employment
Health Government Media ____________
7. Identify your Top 3 Assets (Talent, Skills, Experience, Resource, Citizenship Etc.)
You Partner
Fashion appreciation and talents
Strong feelings towards community service _________________________________
_______________________________ _________________________________
8. Dream BIG: Based on your combined Assets, what is a Need within the Identified Mountain that you can, and like to, meet (DNA)
____________________________________________________________________________________
____________________________________________________________________________________
9. Begin small: Begin by identifying one unit of your primary product or service.
____________________________________________________________________________________
10. Who are your target customers in terms of service and generating cash inflows? ____________________________________________________________________________________
Fox and Hedgehog
