RSM100Y1 Chapter Notes - Chapter 6: Social Entrepreneurship, Canadian Intellectual Property Office, Skunkworks Project
Document Summary
6: starting your own business: the entrepreneurship alternative. Lo 6. 1 describe what is an entrepreneur and the different types of entrepreneurs. Entrepreneur: a person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business. Entrepreneurs combine their ideas and drive with money, employees, and other resources to create a business that meets a need. Entrepreneurs may also perform a managerial role, but their main responsibility is to use the resources of their organizations employees, money, equipment, and facilities to accomplish their goals: managers direct others to reach an organization"s goals. Entrepreneurs have the drive and impatience that make their companies successful. These qualities may hurt their ability to manage. Studies have identified certain personality traits and behaviors common to entrepreneurs: one of these traits is the willingness to take on the risks of starting a new venture. Lo 6. 2 explain why people choose to become entrepreneurs.
