Enterprise - Unit 1 Flashcards
1
Q
What is an entrepreneur?
A
A person who owns and runs their own business and takes risks.
2
Q
What is enterprise?
A
The initial spark and idea for a business and the willingness by an individual to show initiative, take a risk and undertake a new adventure.
3
Q
Enterprises are another word for ________
A
Businesses
4
Q
Name the 3 main enterprise skills?
A
- Risk-taking
- Showing initiative
- Willingness to undertake a new venture
5
Q
What is the importance of risk taking?
A
Entrepreneurs take risks when they start their own business. There is a chance that their businesses will not survive and therefore they risk their own time, livelihood and money. It is important because new businesses create jobs and wealth in the economy.
