Chapter05 - Chapter5 TheNatureof Entrepreneurship

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Chapter 5 The Nature of  Entrepreneurship
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Characteristics of Entrepreneurs Internal locus of control High energy level High need for achievement Tolerance for ambiguity Self-confidence Flexibility
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Characteristics of Entrepreneurs,  cont. Career/work history Tend to emerge during windows of career  opportunity Age 22-45 Recession! Creative production Project initiation Working with the unknown Finding unconventional solutions Enterprise control—finding enjoyment from running  things
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Small Businesses Small Business Administration 500 or fewer employees Independently owned and operated Does not dominate its industry 99% of US businesses meet this definition 87% of US businesses employer fewer  than 20
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Family Businesses members Family Firm Institute:
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Chapter05 - Chapter5 TheNatureof Entrepreneurship

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