Entrepreneurship Flashcards
1
Q
What is an entrepreneur?
A
An entrepreneur is a person who:
- Organises factors of production to start a business.
- Takes risks.
- Sees an opportunity for gaining profit and takes advantage of it.
- Makes a plan.
- Often manages the business.
- Receives profit, if the business if successful.
2
Q
What are the characteristics of an entrepreneur?
A
The characteristics of an entrepreneur are:
- Ambition to achieve.
- Discipline.
- Optimistic, confident, and remain calm.
- Risk taker.
- Persistent.
- Sense of responsibility.
- Passionate about learning and flexible.
- Display leadership qualities.
- Socially outgoing.
3
Q
What are the skills of an entrepreneur?
A
The skills of an entrepreneur are:
- Creative thinking skills.
- Self-motivation skills.
- Management skills.
- Leadership skills.
- Decision-making akills.
- Communication and negotiating skills.
- Team-building skills.
- Research and planning skills.