MGTA02H3 Chapter Notes - Chapter 3: Credit Theory Of Money, Dedication 2, Business Plan

• School: UTSC
• Department: Management (MGT)
• Course: MGTA02H3
• Professor: Chris Bovaird

Document Summary

Chapter 3 understanding entrepreneurship, small business, and new venture creation. Reporting canadian small business statistic government relies on two source of information: Make estimates of employment and unemployment levels. Good-producing business = less than 100 employees. Unincorporated business operated by self-employed person (no employee) would not be counted among the 2. 2 million business in register. Small business: an owner-managed business with less than 100 employee. Criteria to determine when new firm comes into existence. Adopts to any main organizational forms (proprietorship, partnership, corporation, or co-operative. New venture/firm: a recently formed commercial organization that provides goods and/or services for sale. Difference btwn intrapreneurs and entrepreneurs intrapreneurs don"t have to concern themselves with getting the resources needed to bring new product to market since their employer provides the resources starting new business deals with uncertainty, ambiguity, and unpredictability. The role of small and new businesses in the canadian economy. Small business close to 98% of business in canada are small.