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GMS 200 (566)
Chapter 6

Chapter 6 - Entrepreneurship & Small Business

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Ryerson University
Global Management Studies
GMS 200
Shavin Malhotra

thWednesday November 24 2010 Chapter 6 Entrepreneurship and Small BusinessThe Nature of Entrepreneurships entrepreneurship is dynamic risk taking creative growth oriented behaviourResult in the creation of new opportunitiesWho are the Entrepreneurs entrepreneur willing to pursue opportunities in situations other view as problem or threatsStarts new ventures that bring to life new products or services ideasEntrepreneurs each built successful long term business from good ideas and hard workCharacteristics of Entrepreneurs anyone who assumes responsibility for introducing a new product or change in operations within organizations also demonstrates the qualities of entrepreneurshiptend to share certain attitudes and personal characteristics Confident determined resilient adaptable and driven by excellence have unique background and childhood experience combination of creative production and enterprise control is characteristic of people who want to start things and more things toward a goalDiversity and Entrepreneurship women in Canada make up a larger share of the self employed population with over one third of self employed CanadiansEntrepreneurship and Small Business fewer than 100 employees are categorized as being small organizations with 100500 employees are regarded as medium sized enterprise smaller businesses are prevalent in the service and retailing sectors of the economy some reasons why people purse entrepreneurship and launch their own businesses are because 1 Wanting to be your own boss controlling your future 2 Going to work for a family owned business 3 Seeking to fulfill their dreams Franchise where a business owner sells to another the right to operate the same business in another location runs under the original owners business name and guidanceEntrepreneurship and the Internet estimated that a majority of small firms are conducting business over the Internet Internet entrepreneurship isnt limited to trading through eBay or trying to create the next amazoncom growing area for internet entrepreneurship is B2B business to business website that links buyers and sellersInternational Business Entrepreneurshipinternational business brings opportunities for expanded markets additional financing access to quality and possibly lower cost resources access to labour and technical expertise and locations for low cost manufacturing or outsourcing
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