GMS 200 Lecture Notes - Lecture 10: Limited Liability Partnership, Limited Partnership, Sole Proprietorship

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Deborah De Lange

Document Summary

What is entrepreneurship? risk-taking behaviour that results in the creation of new opportunities for individuals and/or organizations. One with 100 or fewer employees, that is independently owned and operated, and that does not dominate its industry. Small business does not necessarily means start-up business. Open johari window by increasing your self-awareness. Entrepreneurship feels that they can shape their own destiny, be determined (beliefs) Internal locus of control they believe that they control their own destiny, self-directing and like autonomy. High energy level persistent, hardworking, willing to exert extraordinary efforts to succeed. High need of achievement motivated to act individually to accomplish challenging goals, thrive on performance feedback. Tolerance for ambiguity risk takers, tolerate situations with high degrees of uncertainty. Self-confidence competent, believe in themselves, willing to make decisions. Passion and action-orientation act on the ideas, want to get things done, not waste valuable time.