1.1 Role Of Business Enterprise And Entrepreneurship Flashcards
1
Q
What is an Enterprise?
A
Seeing an opportunity to provide a product or service that people are willing to buy.
Another word for business.
2
Q
What are the Entrepreneurial Characteristics?
A
Creativity.
Risk-taking.
Determination.
Confidence.
3
Q
Three risks of having a business
A
Financial risk - Possibility of losing money.
Health - The strain of being in charge can effect health .
Strained Relationships - Starting a business is time consuming.
4
Q
Three rewards of having a business
A
Financial gain - Some successful entrepreneurs can make alot of money.
Independence - Some people like to be their own boss.
Self-satisfaction - Some people like to see or do work.
5
Q
What is an Entrepreneur?
A
A person who takes the risk of starting and running a business.
