Textbook Notes (369,067)
Canada (162,366)
MGTA01H3 (583)
Chapter 3-5

Chapter_3-5[1].docx

3 Pages
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Department
Management (MGT)
Course Code
MGTA01H3
Professor
Chris Bovaird

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Description
Chapter 3 Industry Canada is the main federal government agency responsible for small businessThe government relies on two distinct sources of information in reporting Canadian small business statistics the Business Register which tracks businesses and the Labour Force Survey which tracks individualsTo be included in the register a business must have at least one paid employee annual sales revenues of 30 000 or more or be incorporatedGood producing business is considered small if it has fewer than 100 employees service producing business is considered small if it has fewer than 50 employeesSmall business ownermanaged business with less than 100 employees New VentureFirm criteria when nit was formed whether it was incorporated and if it sold goodsservices a recently previous 12 months formed commercial organization that provides goodsservices for saleEntrepreneurshipEntrepreneurship the process of identifying an opportunity in the marketplace and accessing the resources needed to capitalize on that opportunity Entrepreneurs people who recognize and seize opportunitiesIntrapreneurs people who exhibit entrepreneurial characteristics and create something new within an existing large firm or organization Difference between intrapreneurs and entrepreneur
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