ADM 1300 Chapter Notes - Chapter 5: Pricegrabber, Shopzilla, Epinions

• School: University of Ottawa
• Department: Administration
• Course: ADM 1300
• Professor: Matthew Archibald

Document Summary

Entrepreneurship: strategic thinking and risk-taking behavior that result in the creation of new opportunities. Anyone who assumes responsibility for introducing a new product or change in operations within an organization is also demonstrating the qualities of entrepreneurship. Thus, does not have to be large scale success. Personal characteristics include self-con dence, determination, resilience, adaptation, and being driven by excellence. Internal locus of control: entrepreneurs believe that they are in control of their own destiny; they are self-directing and like autonomy. High energy level: entrepreneurs are persistent, hard working, and willing to exert extraordinary efforts to succeed. High need for achievement: entrepreneurs are motivated to accomplish challenging goals; they thrive on performance feedback. Tolerance for ambiguity: entrepreneurs are risk takers; they tolerate situations with high degrees of uncertainty. Self-con dence: entrepreneurs feel competent, believe in themselves, and are willing to make decisions.