MGTA01H3 Chapter Notes - Chapter 6: Capitalism, Need Theory, Risk Aversion
14
MGTA01H3 Full Course Notes
Verified Note
14 documents
Document Summary
Week 6 - october 19 th , 2016. Free enterprise: an expression used to indicate that individuals have the freedom to start and run businesses without bureaucracy and undue regulation. Sme: a commonly used acronym for small and medium-sized enterprises, meaning any business with fewer than 500 employees. Entrepreneurs: psychological characteristics: four psychological attributes: A belief in one"s own ability to influence affairs. Need for power (npow): people with a need for power are motivated to have authority and need to be influential. Need for affiliation (naff): people with a need for affiliation need to have friendly relationships and are motivated by interaction with others. Need for achievement (nach): people with a need for achievement are motivated by a sense of personal achievement. They like to set and attain challenging goals for themselves, and accomplish. Risk aversion: a tendency to regard new or previously unknown situations as threatening.
