BUS 201 Chapter Notes - Chapter 4: Mark Zuckerberg, Liquid Oxygen, Main Source

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 201
• Professor: Peter Tingling

Document Summary

An independently owned and managed business that does not dominate its market. Three most common ways to determine when a new firm comes to existence. : when it was formed, whether it was incorporated, whether it sold goods and/or services. Entrepreneurship: the process of identifying an opportunity in the market place and accessing the resources needed to capitalize on it. Intrapreneurs: people who create something within a large firm or organization. Lo-2 the role of small and new businesses in the canadian economy. Small businesses: 98. 2 percent of all businesses in canada are small, 1. 6 percent of all businesses in canada are medium, 0. 2 percent of all businesses in canada are large. There were 11, 569, 400 employees in the private sector. Private sector: the part of the economy made up of companies and organizations not owned or controlled by the government. New ventures: new firms are the main source of job creation and new products/services, more women operating small businesses.