GMS 200 Lecture 5: Chapter 5
lily.dilaudo and 39833 others unlocked
24
GMS 200 Full Course Notes
Verified Note
24 documents
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.