Chapter 4- Entrepreneurs And Enterprise Flashcards
0
Q
What is an entrepreneur?
A
The person who has the initiative and takes the risk to start an enterprise.
1
Q
- What is enterprise?
A
Refers to any attempt to start or do something new.
2
Q
- Where is enterprise relevant?
A
Business, the house, schools, community, public service, at work.
3
Q
What is an intrapreneur?
A
Employees working within an organisation who use their initiative to act like entrepreneurs. This means coming up with new products, ways to reduce costs or some other way in which to improve the business.
4
Q
- What are the potential rewards and risks of becoming an entrepreneur?
Rewards:
A
Independence
Personal satisfaction
Income
Creativity and new challenges.
5
Q
Risks:
A
May lose money
May waste a lot of time
Stress.
6
Q
- What are the personal characteristics of entrepreneurs?
A
Confident and pro-active Determind/motivated Innovative/creative Realistic risk-takers Decisive yet flexible.
7
Q
- What are the learned skills of entrepreneurs?
A
To identify opportunities To set goals and plan Effective time management Manage stress Get along with people.
8
Q
- Why is enterprise important?
For entrepreneurs?
A
For personal satisfaction and sense of achievement is boosted.
9
Q
For business?
A
Promotes business profitability
Intrapreneurship.
10
Q
For society?
A
Jobs are created and unemployment is reduced Local and national self-confidence Creativity is encouraged Charitable services More taxes for the government.
