ADMS 1000 Lecture Notes - Lecture 5: Intrapreneurship, Franchising, Small Business

• School: York University
• Department: Administrative Studies
• Course: ADMS 1000
• Professor: Natalie Guriel

Document Summary

Small business = 1-99 employees (98% of businesses are small businesses) Alternative to limited job prospects: pull factors: Small businesses accounted for 70% of labour force in 2015. And over 75% of the new jobs in past decade were from small businesses: information technology. Over 31,000 it are small businesses with 10 or fewer employees: innovation. React more quickly to organizational change and market challenges: economic growth. + med. businesses accounted for 50% of gdp. Risks: career opportunities may be lost, family and social relationships, physical and emotional well-being, loss of money/investment. Great person" school of thought: self-confident, organized, goal-oriented, risk-takers, problem-solver, persistent. Psychological" school of thought: need for achievement, propensity for risk, managerial traits. Establish the business objectives as they relate to such things as business size and production and performance levels. Plan a marketing approach that is based on the target market and market potential.