Home
Flashcards
Preview
MGT 255 - Chapter 2
Home
Get App
Take Quiz
Create
What are some advantages of small business ownership?
More personal contact with people
Independence
Skill developement
Potential financial reward
Challenge
Enjoyment
WHat are some disadvantages of small business ownership?
Risk
People conflict
Time demands
Stress
Need for many abilities
Limited financial rewards
What are some personality characteristics required by successful entrepreneurs?
Achievement orientation
Risk taking
Independence, Self-confidence and Self-assurance
Innovativeness
Strong verbal and numerical skill
Selling skills
Problem solving abilities
Strategic planning
Perseverance
Why are small business successful?
Alterness to change
Ability to attract and nold competent employees
Staying close to the consumer
Thoroughness with operating details
Ability to obtain needed capital
Effective handling of government laws, rules and regulations
What traits describe entrepreneurship?
Creativity, flexibility, innovativeness, risk taking and independence.
Why are the skills of a manager useful?
Maintaining and solidifying the existins product or service or business.
Author
LoveStorm
ID
68931
Card Set
MGT 255 - Chapter 2
Description
The Small Business Decision
Updated
2011-02-26T21:57:15Z
Show Answers
Home
Flashcards
Preview