CHAPTER 4 - ENTREPRENEURS & ENTERPRISE Flashcards
what is an ENTREPRENEUR ?>????>?>?>?<====3
it is the person who has the initiative and takes the risks to start an enterprise
WHAT DOES ENTERPRISE REFER TO ???????????
it refers to any attempt to start or do something new
where is enterprise relevant ???????><
- business
- home
- school
- community
what does IFSC stand for ?????????????????????><><
the International Financial Services Centre
what are intrapreneurs
they’re workers working within an organisation who use their initiative to act like entrepreneurs. this means coming up with ideas for a new product, ways to reduce costs or some way in which to improve the business
what can entrepreneurs be motivated by ?????><><><?
-rewards of independence, personal satisfaction, income increase and creativity and new challenges.
what are some risks that entrepreneurs may face ??????????????><><>«<><><>?????? 0000000c======3
-risks are may waste a lot of money and gain stress
what are some personal characteristics of entrepreneurs ?????????«<>”:{-
- CONFIDENT
- DETERMINED
- INNOVATIVE
- REALISTIC RISK TAKER
- DECISIVE
WHAT DOES PROACTIVE MEAN
?????????
IT MEANS BEING PREPARED TO INITIATE ACTIONS INSTEAD OF WAITING FOR OTHERS TO DO SOMETHING
WHAT DOES REACTIVE MEAN ?
IT MEANS THE OPPOSITE TO PROACTIVE BECAUSE IT MEANS JUST WAIT FOR SOMEBODY ELSE TO MAKE THE FIRST MOVE
what are some learned skills of entrepreneurs ?
- Identify opportunities
- set goals and plan
- manage their time
- manage stress
- get along with people
why is enterprise important ??
- For entrepreneur’s person satisfaction
- For business because it promotes profitability and intrapreneurship
- For society, jobs are created, self confidence for area of business and creativity is encouraged
