MGTA01H3 Chapter 3: Chapter 3 notes (What I used to study for final)
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MGTA01H3 Full Course Notes
Verified Note
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Document Summary
Small business: an owner-managed business with less than 100 employees you are self-employed if you run your own business, work for yourself (musician) or work without pay in a family business. New venture/firm: a recently formed commercial organization that provides goods and/or services for sale (must have been formed within the last 12 months, follow one of the main organizational methods, and sells a good/service) Entrepreneurship: the process of identifying an opportunity in the marketplace and accessing the resources needed to capitalize on it. Intrapreneurs: people who exhibit entrepreneurial characteristics and create something new in an existing organization (don"t have to worry about resources, because they are already provided) Private sector: part of the economy that is made up of organizations that are not owned or controlled by the government. New ventures: responsible for the vast majority of new products and services between 1991 and 2003, th number of businesses grew on average 9300/year.
