GMS 200 Lecture Notes - Lecture 5: Alibaba Group, Airbnb, Force Works

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Ado Abdoulkadre

Document Summary

Entrepreneurship - strategic thinking and risk-taking behavior that results in the creation of new opportunities for individuals and/or organizations. Entrepreneurs - risk-taking individuals who take actions to pursue opportunities and situations others may fail to recognize or may view as problems or threats. Reasons for women and member of visible minorities becoming entrepreneurs: out of necessity (necessity-based entrepreneurship, gain economic independence, provide a pathway to career success that may be blocked otherwise. Social entrepreneurship: a unique form of ethical entrepreneurship that seeks novel ways to solve pressing social problems. Social enterprises have a social mission to help make lives better for underserved populations. Largest percentage of business worldwide: owned and financially controlled by family members, can provide an ideal business situation, problems unique to family business, family business feud, succession problem e. g. l"oreal. Focus: motivation and commitment, resourcefulness, government support, networking, niche opportunism, etc. Lack of strategy: one needs to have short term and long term goals.