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MGTA01H3 Lecture Notes - Lecture 8: Risk Aversion, Risk-Seeking, Start I

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rizvizzle
7 May 2022
School
UTSC
Department
Management
Course
MGTA01H3
Professor

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MGTA01H3 Full Course Notes
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MGTA01H3 Full Course Notes
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Document Summary

Canadians" prosperity is due to a system that encourages private enterprise and entrepreneurial behavior: canada"s liberal, market system works. Enterprise: a project or undertaking that requires effort but whose outcome is uncertain. 85% - survive to end of year 1. 70% - survive to end of year 2. 62% - survive to end of yr. 3. Most would-be entrepreneurs think the odds of success are:even worse! Entrepreneurs: personality traits: high need for achievement , internal locus of control, risk tolerance. Needs motivation theory: need for power (n-pow) These people need personal status and prestige: need for affiliation (n-aff) 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. A person"s belief about what causes good or bad results in his or her life. The extent to which people believe that they can control events that affect them.

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Related Questions

25) Which of the following was highlighted during the lectures as a personality trait possessed by entrepreneurs: a) nAcc - The need for acclaim. Entrepreneurs like to recognized and admired b) nAcq - The need for acquisition. Entrepreneurs are motivated to acquire financial wealth c) nAch - The need for achievement. Entrepreneurs like to get things done. d) nAdj - The need for adjustment. Entrepreneurs like to enter into situations and improve outcomes. e) nAdv ā€“ The need for advancement. Entrepreneurs are stimulated by the process of management.

18) Research suggests that the principal motivation(s) for entrepreneurs creating a new businesses is: a) b) c) d) new businesses are more profitable than existing businesses because most start-up entrepreneurs are unemployed because new businesses tend to be in high technology, fast-growth industries because entrepreneurs seek challenges and the sense of achievement.

Research suggests that the principal motivation(s) for entrepreneurs creating a new businesses is: new businesses are more profitable than existing businesses because most start up entrepreneurs are unemployed because new businesses tend to be in high technology, fast growth industries because entrepreneurs seek challenges and the sense of achievement.