AFM131 Chapter Notes - Chapter 7: Small Business, Affiliate Marketing, Business Incubator

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AFM131 Full Course Notes
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AFM131 Full Course Notes
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Document Summary

Entrepreneurship accepting the challenge of starting and running a business. Innovation: entrepreneurial ventures requires much more innovation than a small business, gives advantage in the market for wealth creation, e. g. new products, new production methods, etc. Why people take the entrepreneurial challenge: new idea, process, or product, entrepreneurs are driven by a belief that they can produce a better product or a current product at a lower cost than anyone else. Independence: entrepreneurs do not like working for other people, entrepreneurships allow entrepreneurs the freedom to pursue their passions without someone standing over them, challenge, people thrive on overcoming challenges, excitement, and doing something new or different. Self directed: self-disciplined and comfortable with being your own boss, and responsibility for own success or failure. Enterprise, and the canadian association of women executives & entrepreneurs. Financial institutions also offer small-business products and services aimed at women.

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