RSM100Y1 Chapter Notes - Chapter 6: Intrapreneurship, Angel Investor, Newly Industrialized Country
Document Summary
An entrepreneur is a risk taker in the private enterprise system, a person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business. Entrepreneurs differ from small-business owners because one of their major goals is expansion and growth. Entrepreneurs combine their ideas and drive with money, employees, and other resources to create a business that meets a need. Managers are employees who direct others to reach an organization"s goals whereas entrepreneurs" main responsibility is to use the resources of their organizations to accomplish their goals. One major trait that differs from managers is the willingness to take on the risks of starting a new venture. Classic entrepreneur: a person who sees a business opportunity and sets aside resources to gain access to that market. Serial entrepreneur: a person who starts one business, runs it, and then starts and runs more businesses, one after another.
