RSM100Y1 Lecture Notes - Lecture 5: Entrepreneurship, Newly Industrialized Country, Social Entrepreneurship
31 Mar 2016
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Document Summary
Chapter 6- staring your own business: the entrepreneurship alternaive. An entrepreneur is a person who seeks a proitable opportunity and takes the necessary risks to set up and operate a business. An entrepreneur is a risk taker in the private enterprise system. Many small business owners want to stay small while entrepreneurs want to expand and grow. Entrepreneurs combine their ideas and rive with money, employees, and other resources to create a business that meets needs. Managers are employees who direct others to reach an organizaions goal. Entrepreneurs also take on managerial roles but their main goal is to use all the resources available to them to accomplish their goals. Studies have ideniied certain personality traits that are common among entrepreneurs. One of these traits is the willingness to take risks. Some take risk to improve their life style while others are forced to.
