MGTA01H3 Chapter 3: BUSINESS CUSTOM 2/E VOL. 1 Chapter 3 Readings (very detailed and helpful)

• School: UTSC
• Department: Management (MGT)
• Course: MGTA01H3
• Professor: Chris Bovaird

Document Summary

Chapter 3: understanding entrepreneurship, small business, and new venture creation. The links among small business, new venture creation, and entrepreneurship: New firms create jobs, noted for entrepreneurship, and are small but this doesn"t mean most small businesses are entrepreneurial. Good-producing business in the register is small if it has less than 100 employees and service-producing business is small if it has less than 50 employees. There are 2. 2 million business establishments in canada and about 2. 5 million people are self-employed . Small business: an owner-managed business with less than 100 employees. New venture/firm: a recently formed commercial organization that provides goods and/or services for sale. Entrepreneurship: the process of identifying an opportunity in the marketplace and accessing the resources needed to capitalize it. People who exhibit entrepreneurial characteristics and create something new within an existing large firm or organization are called intrapreneurs: protector & gamble encourages intrapreneurs.