GMS 200 Lecture Notes - Lecture 7: Strategic Thinking, Visible Minority, Angel Investor

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

Document Summary

Entrepreneurship and small business management week 7 & 8. Entrepreneurship - strategic thinking and risk-taking behavior 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 others may fail to recognize or may view as problems or threats. People who: buy a local franchise outlet, open a small retail shop, operate a self-employed service business. People who introduce a new product or operational change in an existing organization (also known as intrapreneurs). 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. Reasons for women and member of visible minorities becoming entrepreneurs: Provide a pathway to career success that may be blocked otherwise. Money is the key to entrepreneurial success. You have to be young to be an entrepreneur. You must have a degree in business to be an entrepreneur.