Textbook Notes (368,317)
Canada (161,798)
MGTA01H3 (583)
Chapter

MGTA03 Ch 3

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Department
Management (MGT)
Course
MGTA01H3
Professor
Chris Bovaird
Semester
Winter

Description
MGTA03 Ch 3In reporting Cdn small business statistics the govt relies on 2 distinct sources of info both provided by Statistics Canada the Business Register which tracks business and the Labour Force Survey which tracks individuals A goodsproducing business in the register is considered small if it has fewer than 100 employees while a serviceproducing business is small if it has fewer than 50To be included in the register a business must haveleast 1 paid employee annual sales revenues of 30 000 or be incorporated Industry Canada reports that there are 22 million business establishments and 25 million ppl who are selfemployed However an unincorporated businesses operated by a selfemployed person w no employees would not be included in Statistics Canadas Business Register Small business an ownermanaged business w less than 100 employees New venturefirm a recently formed commercial organization that provides goods andor services for saleIf it became operational within the previous 12 mo and adopts any of the main organizational forms proprietorship corporation cooperativeEntrepreneurship the process of identifying an opportunity in the marketplace and accessing the resources needed to capitalize on it Entrepreneurs ppl who recognize and seize opportunitiesIntrapreneurs ppl who exhibit entrepreneurial characteristics and create something new within an existing large firmorganization Eg Swiffer product line in Proctor and Gamble A key difference btw intraprenuers and entrepreneurs is that intraprenuers dont have to concern themselves w getting the resources needed to bring the new product to market since their empl
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