After studying this chapter, students should be able to:

1. Discuss the nature of entrepreneurship.
   
   
2. Describe the roles of entrepreneurs in society.
   
   
3. Understand the major issues involved in choosing strategies for entrepreneurial firms and the role of international management in entrepreneurship.
   
   
4. Discuss the structural challenges unique to entrepreneurial firms.
   
   
5. Understand the determinants of the performance of small firms.