Scribd
Upload
29 views

Management: Canadian Edition

This PowerPoint presentation summarizes key concepts from Chapter 6 of the textbook on entrepreneurship and small business management. It defines entrepreneurship as strategic risk-taking that creates new opportunities, and notes typical traits of entrepreneurs like internal locus of control and tolerance for ambiguity. Small businesses are defined as having 100 or fewer employees and being independently owned. The presentation discusses opportunities for entrepreneurship online and internationally, and depicts the typical stages in the life cycle of an entrepreneurial firm.

Uploaded by

Nusrat Ullah
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
29 views

Management: Canadian Edition

This PowerPoint presentation summarizes key concepts from Chapter 6 of the textbook on entrepreneurship and small business management. It defines entrepreneurship as strategic risk-taking that creates new opportunities, and notes typical traits of entrepreneurs like internal locus of control and tolerance for ambiguity. Small businesses are defined as having 100 or fewer employees and being independently owned. The presentation discusses opportunities for entrepreneurship online and internationally, and depicts the typical stages in the life cycle of an entrepreneurial firm.

Uploaded by

Nusrat Ullah
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
You are on page 1/ 12

PowerPoint Presentation

to Accompany Chapter 6 of
Management
Canadian Edition
Schermerhorn  Wright

Prepared by: Michael K. McCuddy


Adapted by: Lynda Anstett & Lorie Guest
Published by: John Wiley & Sons Canada, Ltd.
Planning Ahead — Chapter 6 Study
Questions

 What is entrepreneurship?

 What is special about small businesses?

 How does one start a new venture?

 What resources support entrepreneurship


and business development?
Management - Chapter 6 2
Study Question 1: What is entrepreneurship?

 Entrepreneurship
– Strategic thinking and risk-taking behavior that
results in the creation of new opportunities for
individuals and/or organizations.
 Entrepreneurs
– Risk-taking individuals who take actions to
pursue opportunities and situations others may
fail to recognize or may view as problems or
threats.
Management - Chapter 6 3
Study Question 1: What is entrepreneurship?

 Entrepreneurs are …
– Founders of businesses that become large-scale
enterprises.
– People who:
• Buy a local franchise outlet
• Open a small retail shop
• Operate a self-employed service business
– People who introduce a new product or
operational change in an existing organization.
Management - Chapter 6 4
Study Question 1: What is entrepreneurship?

 Typical characteristics of entrepreneurs:


– Internal locus of control
– High energy level
– High need for achievement
– Tolerance for ambiguity
– Self-confidence
– Passion and action-orientation
– Self-reliance and desire for independence
– Flexibility
Management - Chapter 6 5
Figure 6.1 Personal traits and
characteristics of entrepreneurs.

Management - Chapter 6 6
Study Question 1: What is entrepreneurship?

 Typical entrepreneurial backgrounds and experiences:


– Parents were entrepreneurs or self-employed.
– Families encouraged responsibility, initiative, and
independence.
– Have tried more than one business venture.
– Have relevant personal or career experience.
– Become entrepreneurs between 22 and 45 years of age.
– Have strong interests in creative production and enterprise
control.
– Seek independence and sense of mastery.

Management - Chapter 6 7
Study Question 1: What is entrepreneurship?

 Reasons for women becoming


entrepreneurs:
– Being motivated by a new idea.
– Doing for themselves what they were already
doing for other employers.
– Seeking a pathway to opportunity.

Management - Chapter 6 8
Study Question 2: What is special about
small businesses?
 Small businesses …
– Ones with 100 or fewer employees.
– Independently owned and operated.
– 50 percent of the private labour force works in small
businesses.
– Are established by:
• Starting a new business.
• Buying an existing business.
• Buying and running a franchise.
Management Fundamentals - Chapter 9
6
Study Question 2: What is special about
small businesses?
 Entrepreneurship and the Internet …
– The Internet offers numerous entrepreneurial
opportunities.
• Online buying and selling
• Dot-com businesses
– Businesses are limited only by personal
creativity.
– Business-to-Business (B2B) ventures are
possible.
Management Fundamentals - Chapter 10
6
Study Question 2: What is special about
small businesses?

 International business entrepreneurship …


– Provides strategic opportunities for small
businesses.
– Creates exporting and importing opportunities.
– Supported through appropriate governmental
and non-governmental organizations.
Management Fundamentals - Chapter 11
6
Figure 6.3 Stages in the life cycle
of an entrepreneurial firm

Management Fundamentals - Chapter 12


6

You might also like