business in the real world Flashcards
1
Q
what is the purpose of a business
A
to provide a good or a service, or to fill a gap in the market
2
Q
what is a social enterprise
A
businesses with primarily social objectives principally reinvested for that purpose in the business or community, rather than being driven by the need to maximise profit for shareholders and owners
3
Q
what is an entrepreneur
A
a person who sets up a business or businesses, taking on financial risks in the hope of profit
4
Q
what are the characteristics of an entrepreneur
A
- risk takers
- idealistic
- spots gaps in the market
