MGTA01H3 Chapter 2: Chapter 2 notes
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MGTA01H3 Full Course Notes
Verified Note
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Document Summary
Chapter 3 understanding entrepreneurship, small business, and new venture creation. Links among small business, new venture creation, and entrepreneurship. To be included in the business register: at least one employee, annual sales revenues of 000 or more, be incorporated. Goods producing business is small if less than 100 employees. Service business small if fewer than 50 employees. Labour force survey uses info from individuals to estimate employment/unemployment levels. Self-employed if working owners of business, or work w/o pay in family business. Unincorporated business operated by self-employed person not counted in industry canada. Small business: an owner-managed business with less than 100 employees. When it was formed, whether it was incorporated, and if it sold goods and/or services. New venture/firm: recently formed commercial organization that provides goods and/or services. Entrepreneurship: the process of identifying an opportunity in the marketplace and accessing the resources needed to capitalize on that opportunity.
