GMS 200 Lecture Notes - Lecture 9: General Partnership, Marketing Strategy, Limited Partnership

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Horatio Morgan

Document Summary

Gms lecture 9 (entrepreneurship and small business management) Strategic thinking and risk-taking behaviour that results in the creation of new opportunities for the individuals and/or organizations. Practical steps in starting a new business: business plan. Covers: industry analysis, company description, product/service characteristics, marketing strategy, staffing description, capital needs. Debt financing: involves borrowing money that must be repaid over time with interest. Equity financing: exchanging ownership shares for outside investment monies venture capitalist. Make large investments in new ventures in return for equity angel investor is a wealthy individual willing to invest in a new venture in return for equity. Legal form: sole proprietorship: an individual or a married couple who pursue business for a profit. General partnership: consists of business partners who agree on the contribution of resources and skills to the new venture, and on the sharing of profits, losses, and management responsibilities.