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enterprise

chapter 5 ish

TermDefinition
An entrepreneur is A person who spots an opportunity and takes the initiative to set up a business to make money from that opportunity
Two characteristics of an entrepreneur Risk taker and Self-motivated
Four skills needed by enterprising people Human relations, time management, Planning and decision making
An intrapreneur is an employee working within a business who shows enterprise
What type of risk does an entrepreneur take when setting up a business? Financial and Personal
Two examples of famous entrepreneurs Steve Jobs and Richard Branson
What is meant by the term "entrepreneurship" It involves using your initiative to identify some need and then taking the steps to satisfy that need
Enterprising business people are rewarded by profit
Intrapreneurs do not take such a high degree of risk
Enterprise in the Home Parents converting an attic used for storage into a study for their daughter so that she will have a place to study for her Leaving Cert
Enterprise in School A teacher organising an after-school drama club and putting on an end-of-year play
Enterprise in the Community Neighbours getting together and organising a committee to clean up their area and entering it for the Tidy Towns competition
Entrepreneurship is a way of thinking that involves new ideas
Entrepreneurship is a way of thinking that involves Observing opportunities and needs
Enterprise ENTERPRISE is the human activity that provides the initiative and risk both financial and personal, in setting up a business. It is the ability to spot opportunities in the market and produce a product or service to fill the niche in the market. It is bei
Reasons why becoming an entrepreneur Being your own boss Varied work day Unemployment More money
Being your own boss Many entrepreneurs do not want to take orders from other people and want to be their own boss. They get to make all the decisions on behalf of the business eg. Location, opening hours.
Varied work day They like the different types of work associated with being an entrepreneur. Days are varied as the entrepreneur might have to, for example, meet with customers and prepare a marketing campaign.
Unemployment Someone can’t find work might become an entrepreneur out of necessity.
2 characteristics of an entrepreneur A person who spots an opportunity, uses initiative and takes risk in starting up a new business with the aim of making a profit.
Created by: aimeemcgrane
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