GMS 200 Lecture 5: CH-5-Entrepreneurship-and-small-business-management

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Deborah De Lange

Document Summary

: is risk-taking behavior that results in new opportunities: strategic thinking and risk taking behavior that results in the creation of new opportunities for individuals and or organizations, not gamblers but calculated risk takers. Who are the entrepreneurs: entrepreneur threats. : is willing to pursue opportunities in situations others view as problems or. Diversity and entrepreneurship: those who are driven by the quest for new opportunities and those who are driven by absolute need, necessity-based entrepreneurship. : takes place because other employment options do not exist. Usually women and visible minorities fall into this category as they have been affected by the glass ceiling. Entrepreneurship can be a function of self-efficacy and locus of control. Personal agency belief (entrepreneurship) is multiplicative function= (self- efficacy)(locus of control: typical entrepreneurial backgrounds and experiences, childhood experiences and family environment. Families encourages responsibility, initiative and independence: career or work history.