GMS 200 Chapter Notes - Chapter 5: Wayne Huizenga, Frank Stronach, Social Entrepreneurship

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Deborah De Lange

Document Summary

The nature of entrepreneurship: entrepreneurship is a strategic thinking and risk-taking behaviour that result in the creation of new opportunities. "an important part of being an entrepreneur is a gut instinct that allows you to believe in your heart that something will work even though everyone else says it will not" - h. Frank stronach- built largest automotive parts manufacturing company. Brian scudamore- fedx (world"s largest junk removal company) Internal locus of control- believe that they are in control of their own destiny. High energy level- persistent, hard working, willing to exert extraordinary efforts. High need for achievement- motivated to accomplish goals, thrive on performance feedback. Tolerance for ambiguity- risk takers, tolerate situation with high degrees of uncertainty. Passion and action orientation- try to act ahead of problems, want to get things done. Self- reliance and desire for independence- self reliant, want to be their own bosses.