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Business > Entrepreneurship > Flashcards

Entrepreneurship Flashcards

1
Q

Who is an entrepreneur

A

An entrepreneur is a person who undertakess risks in running and establishing the business hoping that it will make a profit

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2
Q

Who is an Entrepreneurship

A

Entrepreneurship is the act of managing business

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3
Q

Characteristics of an entrepreneur

A

Creative
Innovative
Risk takers
Goal oriented
Flexible
Persistent

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4
Q

Leadership qualities of entrepreneurs

A

Communication skills
Clear vision
Supportive
Self belief
Share success
Involved
They create an Atmosphere
They are honest
Perseverance
They are willing to Learn

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5
Q

Functions of an entrepreneur

A

Planning
Conceptualizing
Operating
Bearing risk

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6
Q

What is Capital

A

Capital is the wealth in the form of money or assets that have been used to start a business

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7
Q

There are two basic sources of start-up capital for new entrepreneur

A

Their own money or someone else’s

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8
Q

There are 4 factors of production what are they?

A

Land
Labour
Capital
Enterprise

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