MGMT 1000 Chapter Notes - Chapter 4-5: High Tech, Common Stock, North American Free Trade Agreement

• School: University of Guelph
• Department: Management
• Course: MGMT 1000
• Professor: Kathleen Rodenburg

Document Summary

Lo-1 small business, new venture creation, and entrepreneurship. Small business: an independently o(cid:449)(cid:374)ed a(cid:374)d (cid:373)a(cid:374)aged (cid:271)usi(cid:374)ess that does(cid:374)"t do(cid:373)i(cid:374)ate its market. New venture: a recently formed commercial organization that provides goods and/or services for sale. Entrepreneurship: the process of identifying an opportunity in the marketplace and accessing the resources needed to capitalize on it. Entrepreneur: a business person who accepts both the risks and the opportunities involved in creating and operating a new business venture. Intrapreneurs: people who create something new within an existing large firm or organization. Lo-2 the role of small and new businesses in the canadian economy. Small businesses: 98. 2% of the businesses in canada are small (have fewer than 100 employees), more than half have fewer than 5 employees, ontario and quebec together account for the largest proportion of business establishments (57%) Private sector: the part of an economy made up of companies and organization not owned or controlled by the government.