MGTA01H3 Chapter Notes - Chapter 3: Small Business, Main Source, Trust Company

• School: UTSC
• Department: Management
• Course: MGTA01H3
• Professor: Bill Mc Conkey

Document Summary

Small business: scale / importance in canada failure and success. An owner-managed business with less than 100 employees. # of employee: sales revenue, size of the investment. Four industries with 2/3 of employment are small businesses: non-institutional health care, construction industry, other services, accommodation and food. A recently formed commercial organization that provides g/s for sales. Responsible for the vast majority of new products and services. The process of identifying an opportunity in the marketplace and accessing the resources needed to capitalize it. Occurs in wide range of contexts; not only small/new firms but also old/large firms. Intrapreneurs: people who exhibit entrepreneurial characteristics and create something new within an existing large firm or organization resources are mostly provided by employer, unlike entrepreneurs. Private sector the part of the economy that is made up of companies and organizations that are not owned or controlled by the govt.