GMS 200 Chapter 8: GMS - Chapter 8.docx

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Horatio Morgan

Document Summary

Chapter 5 entrepreneurship and small business management. Entrepreneurship is risk talking behaviour that results in new opportunities. Entrepreneur is willing to peruse opportunities in situations others view as problems or threats. Entrepreneurs are very self-confident, determined resilient adaptable and driven by excellence. Internal locus of control i control my destiny. High need for achievement more goals and motivated by them. Passion and action oriented want to get things done, no wasting. Self-reliance and desire for independence independent. Flexibility easy going, accept errors and problems. Enterprises choose this career because no other employment options are available for them (necessity-based entrepreneurship) Entrepreneurship gives minorities and women a change to shine (success statistics: small businesses. Small businesses are businesses with less than 100 employees. (98% of canadian corporations are small) The have many advantages and they invest a lot of research and development: how to get started. Being our own boss and take control of our future.