MGTA05H3 Lecture Notes - Lecture 7: Capitalism, Risk Aversion, Risk-Seeking
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Free enterprise: freedom and bureaucracy from starting a business. Ca(cid:374)ada is a (cid:373)arket e(cid:272)o(cid:374)o(cid:373)y, has (cid:272)o(cid:374)(cid:272)epts of ada(cid:373) (cid:373)ith(cid:859)s li(cid:271)eralis(cid:373) Small businesses (depends on the industry) created most new jobs. Small businesses are the most type of enterprises in canada. It is very easy to open a business in canada but also really easy to shut down. Remember it is an enterprise: an undertaking or project which requires energy and effort but whose outcome is uncertain. However, you longer you are in business, the less likely to fail. Need for power: want to be influential, want power, (cid:449)a(cid:374)t to (cid:271)e (cid:858)the (cid:271)oss(cid:863) Need for affiliation: wants to be respected, wants friendly relationship, is a team player. Need for achievement: bucket lists, seeks challenges, needs accomplishment (sense of achievement is more important than material success) A perso(cid:374)(cid:859)s (cid:271)elief of (cid:449)hat (cid:272)auses good/(cid:271)ad results fro(cid:373) e(cid:448)e(cid:374)ts. The extent to which people believes if they can control their events.
