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Chapter 8

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Ryerson University
Global Management Studies
GMS 200
Horatio Morgan

Chapter 5Entrepreneurship and Small business management Entrepreneurshipis risk talking behaviour that results in new opportunities Entrepreneur is willing to peruse opportunities in situations others view as problems or threats Entrepreneurs are very selfconfident determined resilient adaptable and driven by excellenceInternal locus of controlI control my destinyHigh energy levelhard workingHigh need for achievementmore goals and motivated by themTolerance for ambiguityrisk takingSelfconfidencebelieve in them selvesPassion and action orientedwant to get things done no wastingSelfreliance and desire for independenceindependentFlexibilityeasy going accept errors and problems Family and childhood life experiences2 Diversity and EntrepreneurshipEnterprises choose this career because no other employment options are available for them Necessitybased entrepreneurship Entrepreneurship gives minorities and women a change to shine Success statistics 3 Small Businesses Small businesses are businesses with less than 100 employees 98 of Canadian corporations are small The have many advantages and they invest a lot of research and development 4 How to get started being our own boss and take control of our future going to work for a family owned business making the dream come real Franchise is the agreement from a business owner to another person to operate the same business at a different location Timmies pizza pizza 5 Internet EntrepreneurshipBusiness over the internet ebay and the use of ecommerce are growing Companies are changing their platform to an online platform for better service and savings 6 Family Business Owned and control by members of a family larger percent of worldwide businesses are this type Mostly driven by common goal Even though it is quite successful it can create problems
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