Entrepreneurship

Question 1

What is an entrepreneur?

Answer 1

An entrepreneur is a person who:

1. Organises factors of production to start a business.
2. Takes risks.
3. Sees an opportunity for gaining profit and takes advantage of it.
4. Makes a plan.
5. Often manages the business.
6. Receives profit, if the business if successful.

Question 2

What are the characteristics of an entrepreneur?

Answer 2

The characteristics of an entrepreneur are:

1. Ambition to achieve.
2. Discipline.
3. Optimistic, confident, and remain calm.
4. Risk taker.
5. Persistent.
6. Sense of responsibility.
7. Passionate about learning and flexible.
8. Display leadership qualities.
9. Socially outgoing.

Question 3

What are the skills of an entrepreneur?

Answer 3

The skills of an entrepreneur are:

1. Creative thinking skills.
2. Self-motivation skills.
3. Management skills.
4. Leadership skills.
5. Decision-making akills.
6. Communication and negotiating skills.
7. Team-building skills.
8. Research and planning skills.