19. Role of an entrepreneur

Question 1

Role of an entrepreneur:

Answer 1

• Creating and setting up a business
• Running and expanding/developing a business
• Intrapreneurship
• Anticipating risk and uncertainty in the business environment

Question 2

Setting-up process of a business

Answer 2

• Idea
• Research
• Planning
• Financing
• Location
• Resources
• Launch

Question 3

Running and expanding/ developing a business:

Answer 3

• Financial management
• Administration
• Marketing
• Purchasing
• Managing People
• Production

Question 4

Barriers to entrepeneurship

Answer 4

• Lack of finance
• Lack of entrepreneural capacity
• Becoming an employers
• Legal barriers
• Lack of ideas
• Fear of failure
• Aversion to risk
• Corrupt and unsupportive environment

Question 4

Entrepreneurs

Answer 4

Individuals who tipically set up and run a business and take the risks associated with this

Question 5

Intrapreneurs

Answer 5

Employees who use entrepreneural skills, without having to risk their own money, to find and develop initiatives that will have financial benefits for their employer.

Question 6

Anticipating risk and uncertainty in the business environment:

Answer 6

• Anticipating risk –>
• Anticipating uncertainty –>