ITM 100 Chapter 5: GMS200 CHAPTER 5

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 100
• Professor: Debashish Roy

Document Summary

Gms200 chapter 5: entrepreneurship and small business management. Entrepreneurship is risk-taking behavior that results in the creation of new opportunities for individuals and/or organizations. Who are the entrepreneurs? (some names on 145) Entrepreneurs: willing to pursue opportunities in situations others view as problems or threats or fail to recognize. Childhood experiences and family environment parents who were entrepreneurs or self-employed. families that encourage responsibility, initiative, and independence. Career or work history try more than one business venture. prior career or personal experience in the business area or industry. Windows of career opportunity start businesses between the ages of 22 and 45; but, age is no barrier. Deeply embedded life interests strong interests in creative production and enterprise control. seek independence and the sense of mastery that comes with succes. Necessity based entrepreneurship: takes pla(cid:272)e (cid:271)e(cid:272)ause other e(cid:373)plo(cid:455)(cid:373)e(cid:374)t optio(cid:374)s do(cid:374)"t e(cid:454)ist. Offers opportunities to get own economic independence, providing pathway for career success that may be blocked otherwise.