Textbook Notes (368,795)
Canada (162,165)
MGTA01H3 (583)
Chapter 3

Chapter 3 - Understanding Entrepreneurship, Small Business, and New Venture Creation

7 Pages
Unlock Document

Management (MGT)
Chris Bovaird

S\`W^ŷÊZVW^_`SZV ZYZ`^W\^WZWa^_ \Sa_ ZW__SZVWcWZ`a^W ^WS` [Z \S Z`WWSZ ZY[XSZV Z`W^^WS` [Z_ \S[ZY`W`W^__STa_ZW__ZWc bWZ`a^WU^WS`[ZSZVWZ`^W\^WZWa^_\ S^ [a_WS_a^W_[X_STa_ZW__ ZUaVW`WZaTW^[X\W[\W`WTa_ ZW__ W\[_`WU[\SZ __SW_^WbWZaW`W_ "W[X`W ZbW_`WZ`^W]a ^WV[^`W `\W[X[cZW^_ \_`^aU`a^W`WTa_ ZW__S_ $ZVa_`^SZSVS _`WS ZXWVW^SY[bW^ZWZ`SYWZU^W_\[Z_ TWX[^_S Ta_ ZW__$Z^W\[^` ZYSZSV SZ_STa_ ZW___`S` _` U_`WY[bW^ZWZ`^W W_[Z `c[V _` ZU`_[a^UW_[X ZX[^S` [ZT[`\^[b VWVT`S` _` U_SZSVS%`W a_ ZW__WY _`W^'c U`^SU(_Ta_ ZW__W_)SZV`W*ST[a^ [^UWa^bW'c U `^SU(_ ZV b VaS_) Y[[V_-\^[VaU ZY Ta_ ZW__ Z`W^WY _`W^ _U[Z_ VW^WV_S X `S_XWcW^`SZ ŵŴŴW\[WW_ _W^b UW-\^[VaU ZYTa_ ZW__ _U[Z_ VW^WV_S X `S_XWcW^`SZŹŴW\[WW_ $ZV b VaS_S^WUS__ X WVS__WX-W\[WV X`WS^Wc[^( ZY[cZW^_[XSTa_ ZW__ `S` _W `W^ ZU[^\[^S`WV[^aZ ZU[^\[^S`WV X`Wc[^(X[^`W_WbW_Ta`V[ Z[`SbWSTa_ ZW__[^ X`Wc[^(c `[a`\S ZSXS Ta_ ZW__ ZaZ ZU[^\[^S`WVTa_ ZW__[\W^S`WVTS_WX-W\[WV\W^_[Zc[aVZ[`TW U[aZ`WVS[ZY`WŶŶ [ZTa_ZW__W_ Z`W^WY _`W^ Sa_ZW__ÊSZ[cZW^-SZSYWVTa_ ZW__c `W__`SZŵŴŴW\[WW_ ^WW[X`W[_`U[[ZU^ `W^ Sa_WV`[VW`W^ ZWVcWZSZWcX ^U[W_`[ W _`WZUWS^W% ŵ èWZ `cS_X[^WV3S_TWU[W[\W^S` [ZSc ` Z`W\^Wb [a_ŵŶ[Z`_ Ŷ èW`W^ `cS_ ZU[^\[^S`WV3SV[\`_SZ[X`WS Z[^YSZ "S` [ZSX[^_ '\^[\^ W`[^_ \\S^`ZW^_ \U[^\[^S` [Z[^U[-[\W^S` bW) ŷ $X `_[VY[[V_SZVÈ[^_W^b UW_ WcWZ`a^WÈ ^ÊS^WUWZ`X[^WVU[W^U S[^YSZ "S` [Z`S`\^[b VW_ Y[[V_SZVÈ[^_W^b UW_X[^_SW Z`^W\^WZWa^_\Ê _`W\^[UW__[X VWZ` X ZYSZ[\\[^`aZ ` Z`WS^(W`\SUW SZVSUUW__ ZY`W^W_[a^UW_ZWWVWV`[US\ `S "W[Z`S`[\\[^`aZ ` Z`^W\^WZWa^_ÊS^W\W[\Wc[^WU[YZ "WSZV_W "W[\\[^`aZ ` W_'Y5WZ è[[V_SZV6[Z7SY S^V ) W[\Wc[W T `WZ`^W\^WZWa^ SUS^SU`W^ _` U_SZVU^WS`W_[W` ZYZWc c ` ZSZW _` ZYS^YWX ^[^[^YSZ "S` [ZS^WUSWVZ`^S\^WZWa^_ (WV XXW^WZUWTW`cWWZ Z`^S\^WZWa^_SZVWZ`^W\^WZWa^_`\ USV[Z `SbW`[ U[ZUW^Z`W_WbW_c `YW`` ZY`W^W_[a^UW_ZWWVWV`[T^ ZY`WZWc\^[VaU``[ S^(W`_ ZUW`W ^W\[W^\^[b VW_`W^W_[a^UW_ W_U^ TW`W^[W[X_SSZVZWcTa_ ZW__W_ Z`WSZSV SZWU[Z[ 9:;[XSTa_ ZW__ ZSZSVS __S'Sb ZYW__`SZŵŴŴW\[WW_) \\^[ S`WŹ:;[XSTa_ ZW__W_`ST _WZ`_ ZSZSVSÊcW`W^_S[^ S^YWÊS^W[US`WV ZZ`S^ [SZVaWTWU WS>[^ `[X_STa_ ZW__W_'ŹŻ\W^UWZ`)SbWXWcW^`SZŹW\[WW_ ^bS`WWU`[^Ê`W\S^`[X`WWU[Z[`S` _SVWa\[XU[\SZ W_SZV [^YSZ "S` [Z_`S`S^WZ[`[cZWV[^U[Z`^[WVT`WY[bW^ZWZ` $ZSZSVSTa_ ZW__W_c `TW`cWWZŹSZVŵ9W\[WW_SUU[aZ`X[^`W YW_` \W^UWZ`SYW[XW\[WZ` Z`W\^ bS`W_WU`[^ UU[^V ZY`[$ZVa_`^SZSVS_STa_ ZW__W_SUU[aZ`X[^[bW^`c[-` ^V_[X W\[WZ` ZX[a^ ZVa_`^ W_%Z[Z- Z_` `a` [ZSWS`US^W'9Ŵ;)`W U[Z_`^aU` [Z_ ZVa_`^'ŻŻ;)[`W^_W^b UW_'Żŷ;)SZVSUU[[VS` [ZSZVX[[V 'ź9;) WcX ^_S^W`WS Z_[a^UW[X>[TU^WS` [Z3S^WS_[^W_\[Z_ TWX[^`WbS_` S>[^ `[XZWc\^[VaU`_SZV_W^b UW_ _Ê_S-SZVWV a-_ "WVWZ`W^\^ _W_ $Z`W^_[Xc[S_TWWZ^W_\[Z_ TWX[^`WY^[c` ZZWcX ^_c[WZ\SSXS^ [^W\^[ ZWZ`^[W`S`WbW^TWX[^W WY[bW^ZWZ`WUaVW_Ta_ ZW__W_c `[a`W\[WW_cWZ`WS^WU[Z_ VW^ ZY ZWcbWZ`a^W_ Z`W ^_`S` _` U_ ZaZ ZU[^\[^S`WVTa_ ZW__[\W^S`WVTS_WX-W\[WV\W^_[Z'c `Z[ W\[WW_)c[aVZ[`TW ZUaVWV Z`S` _` U_SZSVS _a_ ZW__WY _`W^ ZWS^YWTa_ ZW__WS_ [a`\W^X[^_`WU[Z`^ Ta` [Z[XSU[aZ`W__ZaTW^[X _STa_ ZW__W_ ZSZS^WS_U[WU` bW _[a`\W^X[^S^YWTa_ ZW__W_ Z SZS^WS_\S^` UaS^ Z`W^_[X`W ^U[Z`^ Ta` [Z`[W\[WZ`Wc Ta_ ZW__W_`[[WSV`WcScWZ `U[W_`[ ZZ[bS` [ZSZVZWc`WUZ[[Y \S Z`WWZ`^W\^WZWa^S\^[UW__SZVVW_U^ TW `_`^WW(WWWWZ`_ WWZV[XSZWZ`^W\^WZWa^ S\^[UW__ _`W_`S^`-a\[XSZWcbWZ`a^W[YW``[` _ VW_` ZS` [Z`WWZ`^W\^WZWa^a_` VWZ` XSTa_ ZW__[\\[^`aZ `SZVSUUW__`W ^W_[a^UW_ZWWVWV`[US\ `S "W[Z ` W`^WW(W\^[UW__WWWZ`_S^W% ŵ WWZ`^W\^WZWa^ † [W\W^_[ZSUS^SU`W^ _` U_[XWZ`^W\^WZWa^_S^WTWSb [^S'WY YWZW^YWbW)[`W^_S^W\W^_[ZS ``^S `_'WY ZVW\WZVWZUW) SZV_` [`W^_S^W_( _'WY\^[TW_[b ZY) † $\[^`SZ`cS``W\W^_[Z›[W_ † c[S Z` ZY_`S`WZ`^W\^WZWa^_ZWWV`[V[S^W`[ VWZ` XSZ [\\[^`aZ `SZVSUUW__^W_[a^UW_ Ŷ W[\\[^`aZ ` † $VWZ` X ZY[\\[^`aZ ` W_ Zb[bW_YWZW^S` ZY VWS_X[^ZWc'[^ \^[bWV)\^[VaU`_\^[UW__W_[^_W^b UW__U^WWZ`[_W VWS__[`S` `W[ZW`S`\^W_WZ`_`WTW_`[\\[^`aZ `USZTWVWbW[\WVSZV`WZ VWbW[\ ZY`W[\\[^`aZ ` † $VWS7WZW^S` [Z % Zb[bW_STSZV[Z ZY`^SV ` [ZSS__a\` [Z_ST[a` [c` ZY_c[^(SZV[c`W[aY``[TWSZV_WW ZYcS`[`W^_V[ Z[`3c[^(W\W^ WZUW _`W[_`U[[Z_[a^UW[X VWS_'ŸŹ-:Ź;) [`W^ ZUaVW\W^_[ZS Z`W^W_`È[TT'ŵź;)SZVSUSZUW S\\WZ ZY'ŵŵ;) † U^WWZ ZY%_U^WWZ ZY`WSZ VWS_SZVcWWV ZY[a``WCVWSV-WZVD bWZ`a^W VWS_3 X`WX[[c ZYUS^SU`W^ _` U_S^W ZSZ VWS`W Y^WS`W^[\\[^`aZ ` `\^W_WZ`_% W›WSU^WS`W_[^S››_bSaWX[^`WUa_`[W^ W›WS\^[b›W_SU[\W``bWS›bSZ`SYW`S`USZTW _a_`SZW› W›WS_S^W`STWSZ›XZSZUSbSTW% ` _ \[^`SZ``[ VW`W^ ZWcW`W^`W^WS^WWZ[aYUa_`[W^_c[S^W c ZY`[Ta`W\^[VaU`[^_W^b UW ` _S_[ \[^`SZ``[ VW`W^ ZWcW`W^_SW_c WSV`[\^[X `__` S` ZY`W S^(W`VWSZV^W]a ^W_SZ Z ` SaZVW^_`SZV ZY[Xc[`W Ua_`[W^_S^WcS``W ^ZWWV_S^WSZV[c`W\^[VaU`[^ _W^b UWc _S` _X`W ^ZWWV_TW``W^`SZU[\W` `[^ _ \^[VaU`_c SZVS`[^[aYaZVW^_`SZV ZY[X`W(W U[\W` `[^_ SW_ [^WUS_`ÊSZW_` S`W[X[caU[XS\^[VaU`[^ _W^b UWc TW\a^US_WVT\^[_\WU` bWUa_`[W^_[bW^S _\WU X U\W^ [V'[`S_SW_^WbWZaW `W_` S`WVT a` \ ZY`WaZ `_W\WU`WV`[TW_[VT_W ZY\^ UW) SW_X[^WUS_`X[^`WX[aZVS` [ZX[^VW`W^ Z ZY`W X ZSZU Sb ST ` W`W^ Z ZYX ZSZU Sb ST ` Zb[bW_\^W\S^ ZYX ZSZU S X[^WUS_`_c US^W`c[-`[
More Less

Related notes for MGTA01H3

Log In


Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.