MGST 217 Chapter Notes - Chapter 6: Big Umbrella

• School: University of Calgary
• Department: Management Studies
• Course: MGST 217
• Professor: Cameron Neil Welsh

Document Summary

Mgst 217- different types of entrepreneurs and small business owners. Entrepreneurs- people with vision, drive and creativity which leads them to start businesses. The main difference between entrepreneurs and small business owners is that: entrepreneurs have a long business goal in mind to become big business. Likely to sell business and to create something else. Small business owners- although some entrepreneurs are small business owners, some small business owners choose to stay as a small business rather than expand. The size and impact of a company in the industry. Whether a company is considered as a small business is decided by the: value of annual sales/revenue, value of asset, number of employees. Independently managed: owned by individual or small group of investors, based locally (but the market it targets can be international, not a dominant company (little effect in industry)