GMS 200 Lecture 5: Chapter 5

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

Document Summary

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. Social entrepreneur: a form of ethical entrepreneurship that seeks novel ways to solve pressing social problems, have a social mission to help make lives better for underserved populations. First mover advantage: comes from being first to exploit a niche or enter a market. 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 members of visible minorities becoming entrepreneurs. Provide a pathway to career success that may be blocked otherwise. You have to be a young entrepreneur. Must have a degree in business to be a entrepreneur.