BIOB10H3 Chapter Notes - Chapter 3: Swiffer, Small Business, Franchise Agreement
17 Aug 2014
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Small business: owner managed business with less than 100 employees: most businesses in canada are small businesses (same in us, private sector: portion of economy made up of organizations not owned/controlled by government. New venture/firm: recently formed commercial organization providing goods/services for sale (within prev. 12 months) and adopted one for 4 main organizational forms: in considering stats on new ventures, they exclude businesses without employees. Jobs: 98 percent of employer business are small (canada), but 49 percent of private sector workforce works for small businesses: start ups account for the most growth. Entrepreneurship: process of recognizing opportunity in the marketplace and mobilizing the resources to capitalize on it: entrepreneur: personal who recognizes and seizes opportunities o what person does more important than who person is. Intrapreneurs within an existing organization, people who create something new. Idea creation: most ideas come from work experience. Idea adds value for customers: solves a significant problem.
