Enterprise

Question 1

Enterprise

Answer 1

This involves people using their initiative to come up with any ideas that they can turn into a business

Question 2

Entrepreneur

Answer 2

A person who sets up a new business and takes on a financial and personal risk to achieve the main aim of making a profit
Example: Richard Branson - Virgin

Question 3

Skills/Characteristics of entrepreneurs

(1-5)

Answer 3

1. Self motivation
2. Self confidence
3. Innovative
4. Committed
5. Control

Question 4

Skills/Characteristics of entrepreneurs (5-10)

Answer 4

6. Realistic
7. Leadership
8. Stress management
9. Time management
10. Delegation

Question 5

Intrapreneurship

Answer 5

This is where employees within the business act in an enterprising way for the good of the Business

Question 6

How can intrepreneurship be promoted within a business

Answer 6

1. Employee empowerment
2. Financial business
3. Give employees free time to work in their own project e.g. 20% time - Gmail
4. Create a culture where it is ok to make mistakes

Question 7

Importance of enterprise

Answer 7

For the individual
1. Employment

For the business

2. New products
3. Reduce costs

For Ireland

4. Improved balance of trade
5. Tax revenue for government

For society
6. Social enterprises