MGTA01H3 Chapter Notes - Chapter 3: Tim Hortons, Irving Oil, Labour Force Survey
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MGTA01H3 Full Course Notes
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Chapter 3: u(cid:374)dersta(cid:374)di(cid:374)g e(cid:374)trepre(cid:374)eurship, s(cid:373)all busi(cid:374)ess, a(cid:374)d new ve(cid:374)ture creatio(cid:374) The links among small business, new venture creation, and entrepreneurship // the role of small and new businesses in the canadian economy. Industry canada is the main federal government agency responsible: government relies on information provided by statistics canada: Business register (tracks businesses and must consist of 1 paid employee, annual sales revenues of ,000 or more, or be incorporated) labour force survey (tracks individuals to determine (un)employment levels) Do(cid:374)"t ha(cid:448)e to (cid:272)o(cid:374)(cid:272)e(cid:396)(cid:374) the(cid:373)sel(cid:448)es of (cid:396)esou(cid:396)(cid:272)es; p(cid:396)o(cid:448)ided (cid:271)y e(cid:373)ploye(cid:396)s. Identifies the personal characteristics of entrepreneurs; includes behavioral (high-energy level), personality traits (independence), and skills (problem solving: entrepreneurs need to identify an opportunity and access resources. Work experience is the most common source of ideas, accounting for 45-85% Personal savings: own finances to start up a business love money: investments from friends, family, and business associates. Personal competencies: most teams are formed in one of two ways:
