enterprise Flashcards
enterprise
when someone takes a risk (financial and personal) to start something new
entrepreneurs
person who spots a gap in the market and comes up with an idea that they can turn into a business in order to fill the gap
They take financial and personal risk when setting up the business
They hope to earn a profit from their succesful business idea
intrapreneurhsip
employees of a business act as entrepreneurs in the business.
intrapreneurs are self-motivated, proactive and action-orientated people.
they take initiative by coming up with new business ideas ,reducing costs ,increasing revenue and finding solutions to problems
why become an entrepeneur
become your own boss
varied work day
unemployment
more money
characteristics of entrepeneur
decision-making
risk-taking
determination
self-motivation
self-confidence
creativity
risk-taking
they take personal and financial risks.
they view failure as a learning experience.
they ensure they take a calculated risk i.e one where there is reasonably chance of success
determination
determind to find a way of solving problems
they do not give up easily when faced with obstacles or failure
decision-making
make quick and clear decisions
self-motivation
motivation from within to succeed
they have the personal drive and ambition to succeed
self-confidence
they believe in themselves and their idea
they are not put off by other peoples opinions
creativity
they come up with new ideas by thinking outside the box
skills of an entrepeneur
decision-making
being proactive
networking
risk management
human relations
realism
decision-making
they make quick and clear decisions and take full responsibility for their actions
being proactive
`they take action and make changes as soon as they need to be made
networking
meeting new people and exchanging information
people you meet may be useful in your professional and social life
risk management
identify risks and find ways of reducing the likelihood of risk occurring
human relations
building relationships and brining out the best in people
realism
recognize when things are going wrong and take action to make positive changes
ways to encourage intrapreneurship
training programmes
rewards
workplace culture
teamwork
resource provider
rewards of being an entrepeneur
control
income
challenge
control
have control and make all decisions
they can steer the business in whatever direction they like
income
they believe if their ideas are successful they could earn more money than if they worked as an employee for another business
challenge
they enjoy the challenge of setting up a business and working hard to make it succesful
