Extrinsic factors (context of work)
Company policy and administration
Unhappy relationship with employees supervisor
Poor interpersonal relations with ones peers
Poor working conditions
Need for achievement
The drive to excel, to achieve in relation
Change in social attitudes
o getting new customers
o managing time
o keeping work and family tasks separate
o abiding by city ordinances
o managing risk
An entrepreneurial team is: a group of e
Defining the Business
Derived from the exploration of the business concept
A clear definition of the proposed business
Should include a specific statement of the purpose of the business,
in customer-oriented and societal terms
Steps n the Development o
Performance appraisal process includes:
o Establishing performance standards
o Communicating standards
o Evaluating performance
o Discussing results
o Taking corrective action
- depreciation of any capital assets over the expected life of the
item(s); costs of initiating and setting up the business; ongoing
costs such as salaries, minor equipment, supplies, rent, etc.;
anticipated future increases in these amounts.
The ability to perform the promised service dependably and accurately.
The willingness to help customers and provide prompt service.
The knowledge and courtesy of employees and their ability to convey trust
The caring, individualized a
Automatic fiscal stabilization
occurs because of the design of the tax and transfer system in place (without the
change of tax rate or G):
As Y increases, tax revenue increases and unemployment drops; as a
result fewer households need transfer payments (
- labour force: general way to refer to all the people willing and able to
- Internal labour force: consists of organizations workers- employees and
the people who work at the organization
- External labour market: individuals who are actively seeki
The Legal Environment
Advantages of working for others include:
o risk is assumed by others.
o workers receive benefits such as paid vacation time and health
Entrepreneurs assume all the risk of starting and running a business.
o there may be g
Design work processes
- specific operations, workflow, customer interface, service delivery, strategies for
handling demand extremes, any other special procedures.
Define Processes and Operations
Design optimal organisation structure.
Establish staffing l