ADM 1100 Lecture Notes - Lecture 3: Mark Zuckerberg, Lululemon Athletica, Market Analysis
4 Oct 2017
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Classic entrepreneur: started one new venture and continues to grow it. Social entrepreneurs: started an organization focused on benefitting society e. g. In an average month, canadians start about 23,000 new businesses. Recent decades have shown a heightened interest in entrepreneurial careers. Reasons why people want to become entrepreneurs: desire to be your own boss, desire to succeed financially, desire for job security, desire for improved quality of life. 63% of businesses are operated out of the home. Resources (labour, capital, people) + market opportunity = potential for entrepreneurial. Identifying the market opportunity: understanding the customer and market, growth market of customers wanting product often a niche or focused customer group, competition. Entrepreneurial opportunities (see notes for more information on the following) Vision, high energy, need to achieve, self-confidence and optimism, tolerance for failure, creativity, tolerance for ambiguity, internal locus of control. Botto(cid:373) third of the (cid:272)lass had a portio(cid:374) of (cid:862)(cid:448)ery su(cid:272)(cid:272)essful e(cid:374)trepre(cid:374)eurs (cid:271)ut the others (cid:449)ho a(cid:272)(cid:272)o(cid:373)plished (cid:448)ery little(cid:863)
