1.5.1 Role of an entrepreneur Flashcards
1
Q
What is an Entrepreneur?
A
A person who spots an opportunity and shows initiative and a willingness to take risks in order to benefit from the potential rewards.
2
Q
What is in a Business plan?
A
The executive summary - a synopsis of the entire plan looking at the most important points
The business and products or services
The market e.g. size, share, competitors
The marketing strategy
The skills of the entrepreneur and other key employees
Operations
Financial forecasts
3
Q
What is the purpose of a business plan?
A
To secure external funding
