1.5.2 Entrepreneurial motives and characteristics

Question 1

What are the Characteristics of an entrepreneur?

Answer 1

Opportunity spotter
Creative
Show initiative
Risk taker
Self motivated
Decision maker
Visionary
Enthusiastic
Determined and persistent

Question 2

what are Skills required to be an Entrepreneur?

Answer 2

Communication
Literacy
Numeracy
Information technology
Organisation
Problem solving
Team working

Question 3

What are some reasons for seting up a business?

Answer 3

Fulfilling a dream
Making money
Be own boss
To prove you can
Providing a service
Supporting a community
Social responsibility
Necessity

Question 4

What are the 2 Financial Motives for setting up a Business?

Answer 4

Profit maximisation

Profit satisficing

Question 5

What are the 2 Non-Financial Motives for setting up a Business?

Answer 5

Ethical stance
Social entrepreneurship
Independence
Homeworking