1.5.6 entrepreneur to leader Flashcards
1
Q
what are the demands of becoming a leader?
A
- greater responsibility towards others
- need to motivate and inspire others
- need for strategic vision
2
Q
what are non-monetary opportunity costs?
A
things that cost you personally.
such as environmental, social, and health
3
Q
what are the difficulties of becoming a leader?
A
- sharing ownership and control of the business
- leaders need qualities such as confidence etc
- stress: more responsibilities
- decision making
4
Q
how do entrepreneurs overcome difficulties?
A
- Stress management
- education - develop qualifications
- mentor - gain advice and support
- delegate and trust
