MGTA01H3 Chapter : MGTA03 Ch 3-5
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MGTA01H3 Full Course Notes
Verified Note
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Document Summary
Smes = small/ medium sized enterprises outperform large firms (esp. in contribution to employment) most growth of # bus. in service and high-knowledge industries women increasingly prominent role as entrepreneurs. Entrepreneurial process 3 key elements: entrepreneur, opportunity, resources. The entrepreneur: high need for achievement, internal locus of control, risk tolerance, self-confident. 3 needs motivation theory (mcclelland): n-pow, n-aff, n-ach. Locus of control: extent in which ppl believe they can control events (external vs internal) Risk tolerance: uncertainty of outcome from new/complex/unknown situation kids of entrepreneurs, immigrants, entrepreneurs are older than employees, avg. students, women. Financial debt (from fin. institutions, suppliers trade credit, gov"t) or. Equity personal savings, love $, private investors (angels), venture capitalists (investments pools) other resources team? (dep. on size/scope of bus. , personal abilities) Failure hard work, drive, dedication; demand for g/s; mgmt skills; luck. : poor mgmt skills; neglect; weak control systems; insufficient $
