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MGTA01H3 Chapter 3: Chapter 3 Study Guide

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School
UTSC
Department
Management (MGT)
Course
MGTA01H3
Professor
H Laurence

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MGTA01H3 Full Course Notes
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MGTA01H3 Full Course Notes
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Document Summary

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 on it. Private sector: the part of the economy that is made up of companies and organizations that are not owned or controlled by the government. important is not who the person is but what the person does www. notesolution. com. Characteristics: commitment, determination, integrity and reliability, need to achieve, risk taker, seeking feedback, high energy level, vision, perceptiveness, intelligence, creativity. personal characteristics often have less impact on a person"s actions that the situation a person is in. Idea generation~ generating ideas involves abandoning traditional assumptions about how things work and how they ought to be. The majority of ideas generate from work in everyday life.

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Related Questions

8) In a command economy a) there are no entrepreneurs entrepreneurs must share their business with the state the government takes the lead in planning the economy businesses pay 100% of their profits in taxes

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 – The need for advancement. Entrepreneurs are stimulated by the process of management.

Entrepreneurs are important because they a) provide all of the capital to start new businesses assemble and organise the resources to start new businesses both a and b are true. neither a norb is true.