Textbook Notes (378,431)
CA (167,129)
UTSC (19,207)
MGT (1,095)
MGTA01H3 (583)
Chapter 3

Chapter 3 notes

4 Pages
115 Views

Department
Management (MGT)
Course Code
MGTA01H3
Professor
Chris Bovaird

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Small Business: Government relies on two distinct sources of information.
! ! -To be in the register a business must have at least one paid !employee,
!and annual sales of more than $30k, or be incorporated.
! ! -It"s considered small if the company have fewer than 100 employees for a
! ! goods producing company, and less than 50 employees if its a service
! ! producing company.!
! ! -Depends among creativity of entrepreneurs.
Self Employed: Individuals who are working owners of a business that is either
! ! incorporated or unincorporated, if they work for themselves but do not
! ! have a business, or working for family without pay.
-An unincorporated business operated by a self- employed person would not be
counted among the 2.2 million businesses in the register.
-Majority of businesses in Canada have no employees ( just the owners) nor are the
incorporated.
Panel Study of Entrepreneurial Dynamics (PSED)
!-Tracked a sample of Canadian nascent entrepreneurs- people who are rying to
!start a business over four years.
!-Only 15% of those who reported establishing an operating business had !
! incorporated their firm.
Textbook Definition:
Small Business: An owner-managed business with less than 100 employees.
Medium: 100-499 employees
Big: 500+ employees
New Venture/ Firm: Recently formed commercial organization that provides
!!!goods and/or services for sale.
! ! -Three facts to be considered as new venture/firm: New (to be new is
!formed within previous 12 months), was incorporated (if it adopts any main
!organizational forms (e.g partner ship) ), and if it sells goods/ services.
Entrepreneurship: The process of identifying an opportunity in the marketplace
!!!and accessing the resources needed to capitalize on the
!!!opportunity.
! ! -Entrepreneurs: People who recognize and seize opportunities.
! ! -Occurs not only in new businesses. Could be in forms of large
! ! corporations.
! ! -Intrapreneurs: People who has entrepreneurial characteristics and create
! ! something new within an existing large firm or organization.
-98% of all businesses in Canada are small.
Private Sector: Part of the economy that is made up of companies and organizations
that are not owned or controlled by the government.
-Small businesses contributes to employment rates ( account for 2/3 of employment rate
in four industries: non-institutional, the construction, other services, and
accommodations and food.
Management Chapter 3 Notes
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Description
Management Chapter 3 Notes Small Business: Government relies on two distinct sources of information. -To be in the register a business must have at least one paid employee, and annual sales of more than $30k, or be incorporated. -Its considered small if the company have fewer than 100 employees for a goods producing company, and less than 50 employees if its a service producing company. -Depends among creativity of entrepreneurs. Self Employed: Individuals who are working owners of a business that is either incorporated or unincorporated, if they work for themselves but do not have a business, or working for family without pay. -An unincorporated business operated by a self- employed person would not be counted among the 2.2 million businesses in the register. -Majority of businesses in Canada have no employees ( just the owners) nor are the incorporated. Panel Study of Entrepreneurial Dynamics (PSED) -Tracked a sample of Canadian nascent entrepreneurs- people who are rying to start a business over four years. -Only 15% of those who reported establishing an operating business had incorporated their rm. Textbook Denition: Small Business: An owner-managed business with less than 100 employees. Medium: 100-499 employees Big: 500+ employees New Venture Firm: Recently formed commercial organization that provides goods andor services for sale. -Three facts to be considered as new venturerm: New (to be new is formed within previous 12 months), was incorporated (if it adopts any main organizational forms (e.g partner ship) ), and if it sells goods services. Entrepreneurship: The process of identifying an opportunity in the marketplace and accessing the resources needed to capitalize on the opportunity. -Entrepreneurs: People who recognize and seize opportunities. -Occurs not only in new businesses. Could be in forms of large corporations. -Intrapreneurs: People who has entrepreneurial characteristics and create something new within an existing large rm or organization. -98% of all businesses in Canada are small. Private Sector: Part of the economy that is made up of companies and organizations that are not owned or controlled by the government. -Small businesses contributes to employment rates ( account for 23 of employment rate in four industries: non-institutional, the construction, other services, and accommodations and food. www.notesolution.com
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