1.5.2 Entrepreneurial motives and characteristics Flashcards
1
Q
characterisitcs
A
creativity, initiative, hard work, self confidence, resilience, risk-taking
2
Q
roles of an entrepreneur
A
- creating and setting up a business
- running and expanding
- innovation within the business
- barriers to entrepreneurship
- anticipating risk + uncertainty
3
Q
entrepreneurial skills
A
communication organisations
teamwork
numeracy
problem-solving
IT
4
Q
define profit maximisation
A
aim to make highest amount of profit possible
5
Q
define profit satisficing
A
make enough profit to keep business moving and another aim
6
Q
financial motives for setting up a business
A
profit maximising
profit satisficing
7
Q
non financial motives
A
independence
flexibility
ethical reasons
personal challenge
