MGTA01H3 Lecture : Lecture Notes for chapter 3 of the course with Prof. McConkey
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MGTA01H3 Full Course Notes
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Document Summary
Slide 5: textbook definition of a small business. A small business is defined by the number of people employed (under 100 workers), the owner is also the operator. Problem with definition: owner is not necessary operator, a business could be very big and have less than 100 employees, etc. It is impossible to know how many, we can only estimate. Since there are no fees and the government doesn"t really care, there are many many small businesses that exist. (many are operated by only one person) Nearly 25% work in businesses with <5 others. Nearly 50% work in businesses with <50 others. It is easy to start a small business, but it is easy for a small business to fail. People who understand that and can learn from their failures. Entrepreneurs notice something that people want, and doing it better than the last person www. notesolution. com. Need for power (n-pow) : people who are authority motivated".
