being an entrepreneur

Question 1

what is enterprise

Answer 1

any attempt to start or do something new involves turning ideas into action

Question 2

whats an entrepreneur

Answer 2

person who takes the initiative as well as the personal and financial risk involved in setting up an organisation

Question 3

what is a social entrepreneur

Answer 3

uses their enterprising skills to develop organisations that benefit the the wider community

Question 4

name 7 charactaristics of an entrepreneur

Answer 4

1.realistic risk takers=only take a chance is they see a reasonable chance at success
2.innovative=do something in a new or different way
3.proactice=prepared to act
4.flexible=willing to adapt
5.self confident=belives in themselves and their buisness
6.decisive=makes timely decisions
7.resiliant=dont give up easily

Question 5

name 6 skills of an entrepreneur

Answer 5

1.ability to identify opportunities
2.planning and goal setting
3.time managment
4.ability to manage money
5.ability to assess and manage risk
6.human relation skills

Question 6

3 reasons why we need entrepreneurs in an orgnisation

Answer 6

1.to generate ideas
2.to take risks on new products
3.to raise finance

Question 7

3 reasons why we need entrepreneurs in the economy

Answer 7

1.to provide goods and services
2.to create jobs and wealth
3.taxation

Question 8

3 reasons why we need entrepreneurs in society

Answer 8

1.provide goods and services
2.increase living standards
3.enspire others to become entrepreneurs

Question 9

3 risks of setting up a buisness

Answer 9

1.loosing all the money you have invested
2.working long hours
3.income is not always guaranteed

Question 10

3 rewards of setting up a buisness

Answer 10

1.making all the decisions
2.being your own boss
3.keeping the profits