RSM100Y1 Chapter Notes - Chapter 6: Newly Industrialized Country, Linkedin, Canadian Intellectual Property Office
Document Summary
Chapter 6: starting your own business the entrepreneurship alternative. Entrepreneur: a person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business. Differ from small-business owners small-business owners share the same drive, creative energy, and desire to succeed: entrepreneurs different because one of their major goals is expansion and growth. 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. May 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. Studies have identified certain personality traits and behaviors common to entrepreneurs that differ from the traits and behaviors needed for managerial success. Classic entrepreneur: a person who sees a business opportunity and sets aside resources to gain access to that market.
