GMS 200 Lecture Notes - Lecture 9: Pricegrabber, Shopzilla, Multiplicative Function

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Bamidele Adekunle

Document Summary

Entrepreneurship: risk-taking behaviour that results in new opportunities; strategic thinking and risk-taking behaviour that results in the creation of new opportunities for individuals and/or organizations. Entrepreneur: a person willing to pursue opportunities in situations others view as problems or threats; risk-taking individuals who take actions to pursue opportunities and situations others may fail to recognize. Internal locus of control - entrepreneurs believe that they are in control of their own destiny; they are self-directing and like autonomy. High energy level - entrepreneurs are persistent, hard working, and willing to exert extraordinary efforts to succeed. High need for achievement entrepreneurs are motivated to accomplish challenging goals; they thrive on performance feedback. Tolerance for ambiguity entrepreneurs are risk takers; they tolerate situations with high degrees of uncertainty. Self-confidence entrepreneurs feel competent, believe in themselves, and are willing to make decisions. Passion and action orientation entrepreneurs try to act ahead of problems; they want to get things done and not waste valuable time.