Entrepreneurship Dr. R.C. Insinga

Topics Entrepreneurship Small businesses Home businesses The business plan

Entrepreneurship Entrepreneurs create new enterprises. Characteristics of entrepreneurs Personality -- nAch, internal locus of control, and high tolerance for ambiguity Background -- childhood family environment, education, age, and work history (corridor principle) Life circumstances -- unsatisfactory work environment, negative displacement, career transitions, and positive-pull influencers

Small Business Buying a new business independent franchise Small business managers are different than entrepreneurs managers rather than sources of inspiration more administrative than transformational

Home Businesses See p. 675 in text Grew in the 90’s due to ready availability of office technology Trend of larger companies in the early 90’s during the period of recession and early stages of a slow recovery Currently less significant as companies are tending to bring employees on staff

Business Plan See page 687 in text Value of a business plan evaluate the investment make decisions on need for and allocation of resources present to potential sources of capital help to manage the business