GMS 200 Lecture Notes - Lecture 1: Initial Public Offering, Sole Proprietorship

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Horatio Morgan

Document Summary

Entrepreneurship: is risk taking behaviour that results in new opportunities. Entrepreneur: willing to pursue opportunities in situations others view as problems or threats. Necessity-based entrepreneurship: takes place because other employment options don"t exist. 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. Small business: has fewer than 100 employees, is independently owned and operated, and does not dominate its industry. Franchise: a form of business where one business owner sells to another the right to operate the same business in another location. Internet entrepreneurship: the use of the internet to pursue an entrepreneurial venture. Family business: owned and controlled by members of a family. Family business feud: occurs when family members have major disagreements over how the business should be run. Succession plan: describes how the leadership transition and related nancial matters will be handled.