BUS 401 Chapter 1-3:

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 401
• Professor: Michael MacDougall

Document Summary

The process by which individuals pursue opportunities without regard to resources they currently control. Behavior orientation exhibited by established firms with an entrepreneurial emphasis that is proactive, innovative, and risk taking. The position of a firm on a conceptual continuum that ranges from highly conservative to highly entrepreneurial. Three main reasons people decide to become entrepreneurs: be their own boss, pursue their own ideas, realize financial rewards. Four main characteristics of successful entrepreneurs: passion for their business. An entrepreneur"s belief that his or her business will positively influence people"s lives; one of the characteristics of successful entrepreneurs. Five primary reasons passion is important for the launch of a successful. A willingness to work hard for an extended period of time. The ability to listen to feedback on the limitations of your organization and yourself. Perseverance and persistence when the going gets tough: product/customer focus.