Textbook Notes (381,082)
CA (168,341)
UTSC (19,304)
MGT (1,095)
MGTA01H3 (583)
Chapter 3

MGTA03 – Chapter 3

2 Pages
96 Views

Department
Management (MGT)
Course Code
MGTA01H3
Professor
Chris Bovaird

This preview shows half of the first page. Sign up to view the full 2 pages of the document.
2009/10/05
MGTA03 – Chapter 3: Entrepreneurs and Small Businesses
Prof. Bovaird
In a market economy like Canada you do not necessarily need to pay a fee, writ e forms, get a license, or get
government permission to start a business
According to the text book, Canada forms 380 new businesses every day
Small Business
The term small business is hard to define, but for our pur poses it is an owner-managed business with less than
100 employees
It is impossible to know how many small businesses there are, we can only estimate
Recent government estimate is 2.1 million small businesses across Canada
Of all businesses in Canada about 98% are small businesses
10% of Canadians are self-employed
25% of Canadians work in a business with < 5 employees
50% of Canadians work in a business with < 50 employees
53% of the Canadian workforce works in small businesses
Small businesses have a much higher survival rate than medium-sized or large businesses
Entrepreneur
An entrepreneur is an individual who organizes and co-ordinates the activities required to starts a new
business (someone who assembles and organizes the economic resources to form a business)
The term “entrepreneur is French: entrer (to enter) + prendre (to take)
An entrepreneur’s typical personality traits include:
High need for achievement (NAch)
oDavid McClellands 3 Motivation Needs (1961) :
Need for power (n-pow); Bay St., Military, Politics
Need for affiliation (n-aff); Teacher, Social Worker, Nurses, Priesthood
Need for achievement (n-ach); Entrepreneurs
Internal locus of control
oA persons belief about what causes good/bad results in their life
oInternal LoC: believe events result from their own behaviour and reactionsmore likely to
inf luence others
oExternal LoC: believe that power ful others, fate, or chance determine events
Comfortable wit h uncertainty
Willingness to take calculated risks
Self confidence
www.notesolution.com

Loved by over 2.2 million students

Over 90% improved by at least one letter grade.

Leah — University of Toronto

OneClass has been such a huge help in my studies at UofT especially since I am a transfer student. OneClass is the study buddy I never had before and definitely gives me the extra push to get from a B to an A!

Leah — University of Toronto
Saarim — University of Michigan

Balancing social life With academics can be difficult, that is why I'm so glad that OneClass is out there where I can find the top notes for all of my classes. Now I can be the all-star student I want to be.

Saarim — University of Michigan
Jenna — University of Wisconsin

As a college student living on a college budget, I love how easy it is to earn gift cards just by submitting my notes.

Jenna — University of Wisconsin
Anne — University of California

OneClass has allowed me to catch up with my most difficult course! #lifesaver

Anne — University of California
Description
20091005 MGTA03 Chapter 3: Entrepreneurs and Small Businesses Prof. Bovaird In a market economy like Canada you do not necessarily need to pay a fee, write forms, get a license, or get government permission to start a business According to the textbook, Canada forms 380 new businesses every day Small Business The term small business is hard to define, but for our purposes it is an owner-managed business with less than 100 employees It is impossible to know how many small businesses there are, we can only estimate Recent government estimate is 2.1 million small businesses across Canada Of all businesses in Canada about 98% are small businesses 10% of Canadians are self-employed 25% of Canadians work in a business with < 5 employees 50% of Canadians work in a business with < 50 employees 53% of the Canadian workforce works in small businesses Small businesses have a much higher survival rate than medium-sized or large businesses Entrepreneur An entrepreneur is an ind
More Less
Unlock Document


Only half of the first page are available for preview. Some parts have been intentionally blurred.

Unlock Document
You're Reading a Preview

Unlock to view full version

Unlock Document

Log In


OR

Don't have an account?

Join OneClass

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

Sign up

Join to view


OR

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.


Submit