1.5.2 Entrepreneurial motives and characteristics

Question 1

Intrapreneurship

Answer 1

practice of entrepreneurship within an established firm

-creating/discovering new business opportunities

= new parts of business/new business

Question 2

Intrapreneur

Answer 2

Employee within larger business who thinks like an entrepreneur

Question 3

8 Characteristics of intrapreneur

Answer 3

1. risks
2. problem
3. improve productivity
4. innovation
5. trends (common sense)
6. proactive add value
7. integrity and sense of humour
8. long term view

Question 4

4 reasons to encourage intrapreneurship

Answer 4

1. Motivate employees=better productivity& staff retention
2. encourage networking & collaboration
3. diversification
4. create innovation

Question 5

2 Financial motives

Answer 5

• profit maximisation (plc/franchise)

- profit satisficing (social enterprise) (satisfactory lvl for owner)

Question 6

Profit satisficing

Answer 6

• find ideal blend between different pressures

- “right profit” rather than biggest

Question 7

4 Non financial motives

Answer 7

1. Ethical stance
2. Social entrepreneurship(+ve contribution to community)
3. Independence
4. Home working

Question 8

Entrepreneurial Skills

Answer 8

-Innovative
-Risk-taker
-Hard working
-Organised
-persuasive
-Leadership skills
-

Question 9

Barriers to entrepreneurship

Answer 9

• Calculating risk
• Lack of money
• Lack of knowledge