MGM102H5 Chapter Notes - Chapter 9: Mike Markkula, Small Business, Arthur Fry
Document Summary
Chapter 9- entrepreneurship and starting a small business. Entrepreneurship and small business: entrepreneurship- accepting the challenge of starting and running a business, two extremes of entrepreneurship: A person of very high aptitude who pioneers change, possessing characteristics found in only a very small fraction of the population. 4. pursue entrepreneurship, making business ventures impossibly competitive. Innovation- innovation in new products, production methods, new markets, and new forms of organization gives the venture the competitive advantage that results in wealth creation. Well known canadian entrepreneurs: view pages 232 and 233 for a full list, these stories are very much the same: one entrepreneur had a good idea, started a business, and now employs thousands of people and helps the country prosper. Challenge: some reasons include unexpected structural unemployment, sudden inheritance that allows them to try something different, change in health that forces a career path adjustment, change in family responsibility, disliking a supervisor, etc; other reasons include:
