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Lecture

MGM102 Week 9

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Department
Management
Course
MGM102H5
Professor
Dave Swanston
Semester
Winter

Description
Friday March 14th 2014 Why People Take The Entrepreneurial Challenge -New idea,process, or product -Independence -Challenge -Family pattern -Profit -Immigrants You have to be very independent, self motivated and self driven because you don’t have a boss. If you don’t want to do the work don’t do it but your company will suffer. People started wanting more than job security and started venting out. A large group thought that it was risky. Staying in the company they were they thought was less risky. People who had worked for companies for decades realized that there is no job security for life, especially if there are lower cost options out there. More people are starting to be independent and venturing out. You have to be a person who thrives in this type of environment. What does it take to be an entrepreneur? -Internal focus of control→ my success depends on me. No external environment determines your success -High energy level→ self motivated and driven. You have to bring your energy level high. -Tolerance for ambiguity→ management in the business environment is about managing risk and uncertainty Types of entrepreneurial ventures -Home-based businesses ● computer technology ● corporate downsizing→ for older people in the workforce when you lose your job it’s less likely to find another job. Those
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