AFM131 Lecture Notes - Lecture 3: Home Insurance, Nintendo Entertainment System, Small Business

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: David H A

Document Summary

Chapter 7 entrepreneurship and starting a small business. Entrepreneurship accepting the challenge of starting and running a business. New idea, process, or product belief they can produce a better product, or a current product at a lower cost than anybody else. Gotten hold of a new widget or have conceived of an improvement that they are convinced has a large potential market. Independence don"t enjoy working for someone else. Challenge challenge of doing something new, different and difficult. Family pattern runs in the family. Profit they profit monetarily from their ideas and dedication and risk. Immigrants lack of educational skills, no job experience and weak language skills can make it difficult to find employment. But they may have the drive to start their own business. Self-directed self-disciplined, can be your own boss. Self-nurturing believe in yourself when no one else does. Highly energetic emotionally, mentally and physically ready to do the work.