Comm320-01-Introduction

Comm320-01-Introduction - Comm 320 Entrepreneurship The...

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    Comm 320 Entrepreneurship The Entrepreneur and the  New Economy
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    Lecture Objectives 1. Define Entrepreneurship 2. Understand its role in national  economy 3. causes of small business failures
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    Why study Entrepreneurship?  Approximately 97% of all businesses are  small  60% of the labour force is employed by small  businesses More and more Business graduates are  attracted to the demands of small business  and the potential payoffs   We have entered the Knowledge-Based Era
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    Defining Small Business: General  Characteristics Business is managed by the owner or owners of the  firm Decision making lies mostly with one executive   Annual sales are less than $2 million There is a close management-employee relationship Normally, the company stock is not listed with a stock  exchange The firm is not dominant in the industry (size of 
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Comm320-01-Introduction - Comm 320 Entrepreneurship The...

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