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Wrap up - Entrepreneurship/Organization

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Ryerson University
Global Management Studies
GMS 200
Shavin Malhotra

GMS200: Week 13 Wrap Up April 12, 2011 Entrepreneurship cont. Family owned business account for 35% of all Fortune 500 companies, they account for 50% of U.S. gross domestic product Family businesses Owned and financially controlled by family members Largest percentage of businesses worldwide Can provide an ideal business situation can set up new processes etc. Problems unique to family businesses: o Family business feud o Succession problem Forms of legal ownership Sole proprietorship Partnership Corporation Financing the new venture Sources of outside financing o Debt financing (loans from a bank, any financial institution. Whoever gives you the loan doesnt have any ownership stake in your company, but you have a liability to pay back the loan with interest) o Equity financing (enroll yourself on the stock exchange. Diluting your ownership, but you have no liability to pay back) Equity financing alternatives o Venture capitalists o Initial public offerings o Angel investors (individuals who have a lot of money, who like a certain idea and want to invest in it) Organizing Organizing as a management function? Organizing: the process of arranging people and other resources to work together to accomplish a goal Organization structure: the system of tasks, workflows, reporting relationships, and communication channels that link together diverse individuals and groups
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