BMGT 110 Chapter Notes - Chapter 6: Small Business Administration
4 Apr 2016
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Chapter 6: entrepreneurship and staring a small business. Entrepreneurship=acceping risk of staring and running a business. The job-creaing power of entrepreneurs in the united states. Good idea, borrow $ from family + friends and start business. Opportunity iniiaive +drive to work long hrs, american dream. Independence take something that moives+ inspires and act on it. Need 2 assume risk, take iniiaive, create vision, rally others to follow lead. Acion-oriented desire to realize, actualize, +build dream. Highly energeic emoionally, mentally, physically work long +hard. Tolerant of uncertainty take calculated risk, prepared to fail. Ideas makes good opp if following are true. ~can sell at price consumer willing to pay and make proit. ~can get p/s to customer b4 opp ends. Experienced people of dif business areas form team to develop, make, market product. More cooperaion and coordinaion among funcions of business. Mircopreneurs=some interested in maintain balanced lifestyle w/ work they do. ~happy if company never appears on top-ranked businesses.
