MGTA01H3 Lecture 4: Lecture 4 summer 2015
14
MGTA01H3 Full Course Notes
Verified Note
14 documents
Document Summary
Lecture 4: chapter 3: entrepreneurship and small business. Competitiveness (country"s openness to new businesses) (rank among world"s nations): Owner-managed business, less than 100 employees but its impossible to know how many, we can only estimate. It"s easy for a small business to fail. (one of the main reason: not enough capitalization to begin with, not enough money in the beginning) New venture/firm: a recently formed commercial organization that provides goods and services for sale. Process of identifying an opportunity in the marketplace and accessing the resources needed to capitalize on that opportunity. Most would-be entrepreneurs think odds of success are: worse! Psychologist david mcclelland (1961): needs motivation theory, three basic human motivations: People who need friendly relationships, motivated by interaction with others. N-aff produces need to be liked, held in high regard. People who seek achievement, want to attain challenging goals.
