COMMERCE 1E03 Chapter 7-9: Commerce - Chapter 7-9 Notes.docx
16 Sep 2013
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Chapter seven entrepreneurship and starting a small. Entrepreneurship: accepting the challenge of starting/running a business. Canadian tire: started by john w. and alfred j. billes. New idea, process or product: think they can produce a better product/current product at lower cost. Independence: do not enjoy working for someone else. Challenge: excitement and challenge of doing something new/difficult. Family pattern: family business/long line of entrepreneurs in family. Immigrants: hard for them to find employment so start own business. Self-directed: confident in yourself and decisions, self-disciplined. Determined: believe in idea when no one else does, see through obstacles/difficulties. Action-oriented: must want to realize, actualize and build dream. Highly energetic: must be emotionally, mentally and physically able to work long/hard. Tolerant of uncertainty: make decisions with varying degrees of risk. Able to learn quickly: learn from mistakes, adapt and change when required, admit to mistakes. Number of self-employed women is growing more than number of self- employed men.
