MGTA05H3 Lecture Notes - Lecture 2: Industrial Revolution

• School: UTSC
• Department: Management
• Course: MGTA05H3
• Professor: Chris Bovaird

Document Summary

Enterprise: a project or undertaking that requires energy and effort whose outcome is uncertain. Entrepreneurship: the willingness or motivation to take initiative and accept the risk of failure in return for suitable gratification or reward. Labour incentive: organization that relies heavily on labour (walmart, mcdonald"s) Resource incentive: business that relies on production or use of natural resources (farming, fishing, forestry,mining) Capital incentive: business that relies on money, equipment and technology (banking, auto manufacturing) Industrial revolution: a series of technological development and inventions that transformed the manufacturing, agricultural, mining and transportation industry in the.