1.5.2 Flashcards
What are 6 skills required to become an entrepreneur?
Communication
Team work
Organisation
IT
Problem Solving
Numeracy
What are 6 characteristics you need to be an entrepreneur?
Creativity
Hard working
Self confidence
Risk taker
Initiative
Resistance
Why would being persuasive be useful?
Persuade people to join, financial backers to invest customers to buy.
What are 2 financial reasons to set up a business?
Profit maximisation and satisficing.
What is profit satisfaction?
Not focused on maximising profits, but achieving a satifactionary level for investors.
What is profit maximisation?
Creating a business, which purpose is to gain as much profit as possible.
Why may you profit satisfice?
Work life balance
What are 4 non financial reasons?
Ethical stance
Social entrepreneurship
Independence
Flexibility
Why would you want to have flexible working
To get a better work life balance
What is independence?
Becoming your own boss.
What is ethical stance?
Entrepreneurs may have a belief that they want to satisfy.
What is social entrepreneurship?
Entrepreneur aim to address or solve an ongoing issue relating to social or environmental problem.
