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GMS 200 (566)
Jian Guan (27)
Chapter 6

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Global Management Studies
GMS 200
Jian Guan

Chapter 6 Entrepreneurship and Small Business ManagementStudy Question 1 What is entrepreneurship Entrepreneurship Strategic thinking and risktaking behavior that results in the creation of new opportunities for individuals andor organizationsEntrepreneursRisktaking individuals who take actions to pursue opportunities and situations others may fail to recognize or may view as problems or threatsEntrepreneurs are Founders of businesses that become largescale enterprisesPeople whoBuy a local franchise outletOpen a small retail shopOperate a selfemployed service businessPeople who introduce a new product or operational change in an existing organizationTypical characteristics of entrepreneursInternal locus of controlHigh energy levelHigh need for achievementTolerance for ambiguitySelfconfidencePassion and actionorientationSelfreliance and desire for independenceFlexibilityTypical entrepreneurial bac
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