QUESTIONS TO ANSWER

1. How is business more supportive of freedom than government, although government leaders are elected and business leaders are not? 2. Why are entrepreneurs more respected than CEOs? 3. Why do Americans prefer free enterprise rather than capitalism to call business system? 4. Study the biography of Andrew Carnegie, Thomas Edison, Walt Disney, John D. Rockefeller, and Bill Gates. What similar qualities do you find in them?

Essential Definition of Business in America

Business= institutions directly or indirectly operated and owned by private individuals (or group of individuals) run for making profit. Business does not include (1) public, government-owned-and-operated institutions and (2) non-profit organizations (church, charities, and educational institutions).

Why Americans Highly Respect Business

1. Business is more firmly based on competition than other institutions. 2. Business is the best way to realize the American Dream of getting rich. 3. Business, not the government, is seen the best means of developing the nation. 4. Successful entrepreneurs are accepted heroes. 5. Business is the only career which enables one says Im my own boss

Competition: the Strong Basis of American Business

Competition, accepted not only as a value, but also the major source of progress and prosperity, and the means for preserving individual freedom, equality of opportunity, and hard-work, flourish more in business than other institutions. Business is a race open to all, and success goes to the swiftest person, regardless of social status. Competition encourages hard-work. In business, the one who works harder is likely to win.

BusinessBest Way for American Dream

Business offers the best opportunity to realize the American Dream of getting rich. In 1800s, farmers also run business to add money they get from farming. Even poor people turned to be rich through hard work and self-reliance in running business. Inspired by Algers Ragged Dick, a novel about a poor city boy who shines shoes but manages to rise from rag to rich by running business, many people up to the present day start businesses.

Businessthe Best Means of a Nations Development

The monopoly of power naturally possessed by the government eliminates competition, and thus the production and distribution process are seen inferior. The main duty of the government to issue regulations that guarantee fair opportunity and competition among the entrepreneurs. To develop its economy, there should be not less than 2% entrepreneurs among a countrys population.

Successful Entrepreneurs = Heroes

Successful entrepreneurs are accepted heroes, because: They succeeded in building something great out of nothing. They provide working opportunities for many people. They help the nations economy run.

Entrepreneurs vs. CEOs

Entrepreneurs A leader or hero Start a business powerful and wealthy CEO A manager Manage a business powerful and wealthy

Reasons Why Present Americans Prefer Entrepreneurship

entrepreneurship is a means of achieving professional freedom and creativity; entrepreneurship provides good financial rewards; Entrepreneurship offers more time for their families; Entrepreneurship enable them to have more control over their career path (a realization of their disliking of submitting to a higher authority).

Characteristics of American Entrepreneurs

(Bureau of Census' Consumer Population Survey)
Never Mrd 12%
Divorced 10%

Social Status
Others 4%
Female 34% Married 74%

Sex

Male 66%

Characteristics of American Entrepreneurs

(Bureau of Census' Consumer Population Survey)

Education

Yearly Income
$< 24,000 2%

high school 33%

75,000 28%

College 56%

$ 25,00074,000 70%

graduate school 11%

American Business in Global Market Place

By the 2000s, American business has gone global by building or moving American factories outside of USA, by letting foreign business operate in USA, or by outsourcing.

CHANGING AMERICAN WORKFORCE

Number of Working Women in US (in million) 90 80 70 60 50 40 30 20 10 0 78 66.2 50 45 40 35 30 25 20 15 10 5 0 Percentage of Women in US Labor Force 46.7 46.9

28
18

18.4 5.1 1900 1950 2009 2018

1900

1950

2009

2018

Occupational Distribution (2004-2009)

100 90 80 70 60 50 40 30 20 10 0

17.1 67.6
67.8

31.2

92

92.9

90
68.8 32.4 32.2 10

81.9

Men Women

7.1

Distribution of Position (estimation)

100 90 80 70 60 50 40 30 20 10 0
8 17.1

92.9

92

Men Women

81.9

7.1 employees middle management CEO

Degrees Earners (2008)

100 90 80 70 48 41 47.3

60 50 40
30 20 10 0 professional Master doctoral 52

Men Women 59 52.7

References
Althen, Gary. 2003. American Ways: A Guide for Foreigners in the United States. Maine: Intercultural Press. Bigsby, Christopher. 2006. The Cambridge Companion to Modern American Culture. New York: Cambridge University Press Datesman, M.K., Crandall, J., & Kearny. 2005. American Ways: An Introduction to American Culture. New York: Pearson Education Inc. Maravilla, Nach M. 2011. A Profile of America's Entrepreneurs. URL: http://www.powerhomebiz.com/vol14/profile.htm National Center for Education Statistics, Projections of Education Statistics by 2016, Tables 27-31. http://nces.ed.gov/programs/projections/projections2016/tables.asp #t27 U.S. Department of Labor, Bureau of Labor Statistics, Perspectives on Working Women: A Data book, Bulletin 2008, 1980. U.S. Department of Labor, Bureau of Labor Statistics. 2010. Current Population Survey, Table 11, Employed persons by detailed occupation, sex, race, and Hispanic or Latino ethnicity.