GMS 200 Chapter 6: Chapter 6.docx

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Jian Guan

Document Summary

Strategic thinking and risk-taking behavior that results in the creation of new opportunities for individuals and/or organizations. Risk-taking individuals who take actions to pursue opportunities and situations others may fail to recognize or may view as problems or threats. Founders of businesses that become large-scale enterprises. People who introduce a new product or operational change in an existing organization. Have tried more than one business venture. Become entrepreneurs between 22 and 45 years of age. Have strong interests in creative production and enterprise control. Doing for themselves what they were already doing for other employers. Money is the key to entrepreneurial success. You have to be young to be an entrepreneur. You must have a degree in business to be an entrepreneur. 50 percent of the private labour force works in small businesses. Businesses are limited only by personal creativity. Supported through appropriate governmental and non-governmental organizations. Owned and financially controlled by family members.