Chapter 2 Flashcards
What is an entrepreneur
Someone who starts a business
Entrepreneurs according to economists
Combine different resources to form products
Entrepreneurs according to behaviorist
Jude based on characteristics
Entrepreneurs to Marxist
Exploiters
Entrepreneurs to corporate managers
Small operators with lack of potential
Entrepreneurs to proponents of a market economy
Cause of prosperity in country
Entrepreneurs can …
Creative Innovative Identify opportunities Find resources Take financial risks Bring about change Re enemies economies Start manage and grow
Difference between internal and external locus of control.
Internal have a strong driver force hard work and stuff wolf
And external is based in fortune and luck. Sheep
What is outsourcing
When work is done for a company by people other than the employees
The entrepreneur process
Decision Activities and skills Resources Oppertunities and ideas Feasibility Business plan
Strategy skills
Recognise business as a while and understand how it fits in the market place.
Planning skills
Consider what th3 future might offer q
Marketing skills
Evaluation the business and features
Financial skills
Ability to manage money
Project management skills.
Ability to organise projects
