Many design students dream of opening a retail store of their own, but the actual process of starting their own business can be quite daunting. Entrepreneurship in Action: A Retail Store Simulation provides an opportunity to practice all the steps necessary to conceptualize, develop, open, and finally operate a business in the safe and nurturing environment of the classroom. As they prepare to open their simulated retail business, students learn how to develop a product and product niche, conduct market research, and find funding and a good location for their store. Most important, when they reach the end of the book, they will have written a complete business plan in a format suitable for submission to a bank or other lending institution. This book brings your enterprising students one step closer to making their dream a reality. Each chapter begins with learning objectives and explains a concept, as well as addresses questions that an entrepreneur would need to ask. An assignment follows that directs the students to think creatively to apply the theoretical knowledge previously introduced. The simulation thus pulls together the content as well as the format of a well-conceived business plan.Introducing Entrepreneurship in Action STUDIO--an online tool for more effective study!~Study smarter with self-quizzes featuring scored results and personalized study tips~Review concepts with flashcards of terms and definitions~Watch videos that bring chapter topics and concepts to life~Access downloadable files with definitions, technical instructions, lists related to small businesses, sample leases, floor plans, advertising materials, photos and sample stationery~Review your knowledge using graphics of first year sales plans, fixed cost worksheets, personal financial statements, sales exercises, profit and loss statements, and opening and closing balance sheets~Explore business ownership using marketing, sales, and budgeting graphics and images~Redeeming the code inside this card will give you full access to the content previously contained on the DVD or CD packaged with this book