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Lecture

GMS200 - Chapter 6 Notes

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Department
Global Management Studies
Course
GMS 200
Professor
Jian Guan
Semester
Fall

Description
GMS200Chapter 6 NotesStudy Questions1What is entrepreneurship2What is special about small businesses3How does one start a new venture4What resources support entrepreneurship and business developmentStudy Question 1s answerEntrepreneurshipoStrategic thinking and risktaking behavior that results in the creation of new opportunities for individuals andor organizationsEntrepreneursoRisktaking individuals who take actions to pursue opportunities and situations others may fail to recognize or may view as problems or threatsEntrepreneurs areoFounders of businesses that become largescale enterprisesoPeople whoBuy a local franchise outletOpen a small retail shopOperate a selfemployed service businessoPeople who introduce a new product or operational change in an existing organizationTypical characteristics of entrepreneursoInternal locus of controloHigh energy level
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