MGT 111 Notes chapter 6

MGT 111 Notes chapter 6 - MGT 111 Notes: Chapter 6...

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MGT 111 Notes: Chapter 6 ENTREPRENEURSHIP AND STARTING A SMALL BUSINESS o Entreprenuership: accepting the risk of starting and running a business. o Why do people take this entrepreneurial challenge? o Opportunity : the opportunity to share in the American dream is a tremendous lure. Man people, including those new to this country, maybe not have the necessary skills for working in today’s complex organizations. However, they may have the initiative and drive to work the long hours demanded by entreprenuership. o Profit o Independence o Challenge o What does it take to be an entrepreneur? o Self directed o Self nurturing o Action oriented o Highly energetic o Tolerant of uncertainty Asdf o Entrepreneurial Teams: a group of experienced people from different areas of business who join together to form a managerial team with the skills needed to develop,make and market a new product. o Micropreneurs: Entrepreneurs willing to accept the risk of starting and managing the type of business that remains small, lets them do the kind of
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MGT 111 Notes chapter 6 - MGT 111 Notes: Chapter 6...

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