ENTR100 Study Guide - Midterm Guide: Small Business, Psychographic, Target Market
Document Summary
An entrepreneur - broad sense to include small business owners. Entrepreneurs are innovators, with the ability to start companies and pursue ideas creating new ideas for goods and services. The challenge of building a business, followed by the desire to control one"s own destiny. Two important motives: having a feeling of personal satisfaction with one"s work. Creating a lifestyle that you want creation of a new business which can greatly change the scope or the direction of existing ones; find ways to improve or innovate existing markets. Requires special drive, perseverance, passion and the spirit of adventure. Small businesses refer to the size and the impact ( p. 143) A small business is defined as being independently owned and operated, and not dominant in the market. The difference between entrepreneurs and small business owners is the intended goal: small business owners. The small business owner is likely to refilling their pockets after spending money to operate a business.
