MGM102H5 Final: Full lecture notes for final
Document Summary
Entrepreneurship i: what are the three key differences between small businesses and entrepreneurial businesses? (s-a-g, size: Small businesses remain small, entrepreneurial businesses are expected to grow: age: Small business operations remain the same, entrepreneurial business ventures expand: growth goals: Small businesses don t expect to grow much, entrepreneurial businesses strive for growth: describe the three types of firms in david birch s model. (e-m-g, elephants: Small businesses that generate a lot of economic activity and jobs, Entrepreneurial businesses seeking rapid growth and higher profits. Allows people to be their own bosses for a limited investment. Contributes to society through innovation and job creation. There must be an existing or potential market for the product/service: achievable. Must be practical and physically possible: durable. The window of opportunity must last long enough for the business to be profitable: value-creating. Value of existing business relationships and revenue. High cost of purchasing an existing business. Existing business may have poor business relationships.
