GMS 200 Lecture Notes - Lecture 7: Kopi Luwak, Harrods, Joseph Schumpeter

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Bamidele Adekunle

Document Summary

Gms lecture 9 entrepreneurship & small business: entrepreneurship, locus of control (loc) Harper (2003: measure entrepreneurship as personal agency belief(s, loc * se, loc is internal, cornerstone hypothesis, convergence hypothesis. Kirzner discover opportunities (trial & error) Neoclassical economics: supply = demand (market clearance condition: zero profit (no entrepreneurs, small business, frank & oak (montreal) Customer relation market (crm: carriage 44 (montreal) Product: shea butter w/ olive oil, harrods kopi luwak (expensive) //not on exam. Slides: entrepreneurship, strategic thinking and risk-taking behaviour that results in the creation of new opportunities for individuals and/or organizations, harper (2003) Entrepreneurship can be a function of self-efficacy (chen, 1998) and locus of control (rotter, 1966) Personal agency belief (entrepreneurship) is multiplicative function. = self-efficacy * locus of control: entrepreneurs, risk-taking individuals who take actions to pursue opportunities and situations others may fail to recognize or may view as problems or threats, typical characteristics of entrepreneurs: Flexibility: typical entrepreneurial backgrounds and experiences: