Chapter 4 (4.1 and 4.2 Flashcards
1
Q
Small Business
A
owner-managed business with fewer than 100 employees
2
Q
New Venture
A
recently formed organization, opened within the last 12 months, that sells goods or services
3
Q
Entrepreneurship
A
process of identifying and capitalizing on a marketplace opportunity
4
Q
Entrepreneur
A
person who recognizes and seizes opportunities
5
Q
Intrapreneurs
A
create something new within an existing large organization
6
Q
Role of Small Business
A
98% of all employer businesses in Canada are small (fewer than 100 employees)
main source of job creation
leaders in innovation and new technology
