AFM131 Lecture Notes - Lecture 3: Intrapreneurship, Small Business, Lululemon Athletica

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: David H A

Document Summary

Raising money from a large number of people online. Accepting the challenge of starting and running a business. This innovation gives the venture the competitive advantage that results in wealth creation. While most businesses start small, it is the intent to stay small that separates small business from entrepreneurship. Some entrepreneurs often believe they can produce a better product, or a current product at a lower cost than anybody else. Reasons could vary such as having a new widget, or an idea of an improvement that has large potential market. After 20 years in the surf, skate and snowboard business, lululemon switched to selling new yoga products, switching from the normal cotton clothing to athletic fabrics, generating lots of revenue. Many entrepreneurs simply do not enjoy working for someone else. One of the best things about being an entrepreneur is the freedom to pursue your passion.