Chapter 1 Flashcards
1
Q
what is an entrepreneur
A
an individual who creates a new business, bears most of the risks and enjoys the rewards.
2
Q
what are the 7 motivations behind starting a business
A
independence
freedom and flexibility
become your own boss
fulfill a market need
fulfill a social need
develop a business niche
success and wealth
3
Q
what is an innovation
A
a new or improved product or method of doing things.
4
Q
what are some characteristics of a successful entrepreneur
A
risk taker
innovative thinking
persistent
resilient
ambition
confidence
5
Q
what are the six business opportunity’s
A
global markets
(R&D)
technological development
customer needs
market opportunities
innovation
