GMS 200 Chapter Notes - Chapter 5: Initial Public Offering, Sole Proprietorship, Crowdfunding

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Deborah De Lange

Document Summary

Entrepreneurship: the risk-taking behavior that results in new opportunities. Entrepreneur: willing to pursue opportunities in situations others view as problems or threats. Internal locus of control: believe they control of their own destiny. High energy level: persistent, hard working, willing to exert extraordinary effort to succeed. High need for achievement: motivated to accomplish challenging goals, thrive on feedback. Tolerance for ambiguity: risk takers, tolerate situations with high degree of uncertainty. Self-confidence: competent, willing to make decisions, believe in themselves. Passion & action orientation: act ahead of problems, don"t waste valuable time. Self-reliance & desire for independence: self-reliant, be their own boss. Flexibility: willing to admit problems/errors, willing to change course of action. Background, experience and interests-unique backgrounds and personal experiences. Come from families encouraging responsibility, intuitive, and independence. Necessity-based entrepreneurship: occurs because other employment options don"t exist (women, visible minorities) Unique form of ethical entrepreneurship that seeks novel ways to solve pressing social problems.