GMS 200 Lecture Notes - Lecture 9: Angel Investor, Marketing Strategy, Limited Liability Partnership

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Bamediele Adukunle

Document Summary

Entrepreneurship and small business management lecture 9. Entrepreneurship strategic thinking and risk-taking behaviour that results in the creation of new opportunities for individuals and/or organizations. Entrepreneurs risk-taking individuals who take actions to pursue opportunities and situations other may fail to recognize or may view as problems or threats. Entrepreneurship can be function of self efficacy (chen, 1998) and locus of control (rotter, 1966) Personal agency belief is multiplicative function = self efficacy * locus of control. Have tried more than one business venture. Become entrepreneurs between 22 and 45 years of age. Have strong interests in creative production and enterprise control. Money is the key to entrepreneurial success. You must have a degree in business to be one. 50% of the private labour force works in small businesses. Are established by: starting a new business, buying an existing business, buying and running a franchise.