RSM100Y1 Chapter Notes - Chapter 6: Trait Theory, Canadian Intellectual Property Office, Patent Office
Document Summary
Chapter 6: starting your own business - the entrepreneurship alternative. An entrepreneur is a person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business. Entrepreneurs differ from many small-business owners: one of their main goals is expansion and growth, whereas many small-business owners want to keep their businesses small. Entrepreneurs differ from managers: managers direct other to reach an organization"s goals, whereas entrepreneurs may also perform a managerial role, but their main responsibility is to use the resources of their organizations to accomplish their goals. One certain personality trait common to entrepreneurs is the willingness to take on the risks of starting a new venture. A classic entrepreneur is a person who sees a business opportunity and sets aside resources to gain access to that market. A serial entrepreneur is a person who starts one business, runs it, and then starts and runs more businesses one after another.
