Entrepreneurship, pg. 98 - 104 Flashcards
What is an entrepreneur? List 6 things an entrepreneur does.
An entrepreneur is a business person.
- 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 successful
List 8 characteristics of an entrepreneur.
- Ambition to achieve
- Disciplined
- Optimistic, confident and remains calm
- Risk taker
- Persistent
- Has a sense of responsibility
- Passionate about learning and is flexible
- Displays leadership qualities
AMBITION TO ACHIEVE:
What is ambition?
Ambition is a strong desire to do or achieve something.
DISCIPLINED:
= Need to be disciplined if they want to _____ a ______ from an idea.
= C________ to their work contract.
- Build; business
- Committed
OPTIMISTIC, CONFIDENT AND REMAINS CALM:
= Good entrepreneurs will remain ______ and calm in an emergency.
= B______ in themselves and are confident.
- Positive
- Believe
RISK TAKER:
= Has to be able to take some risk.
= Would be wise to ______ the risk, as far as possible.
- Calculate
PERSISTENT:
= N____ g____ u___, no matter how tough a task is.
- Never; give; up
HAS A SENSE OF RESPONSIBILTY:
= Take ownership of their _______.
= Take charge and are a________ for their decisions.
- Actions
- Accountable
PASSIONATE ABOUT LEARNING AND IS FLEXIBLE:
= Willing to learn from people who are more e__________.
- Experienced
DISPLAYS LEADERSHIP QUALITIES:
= Tend to take the l___ and are willing to lead others to achieve their ______.
- Lead; goals
List 8 skills of an entrepreneur.
- Creative thinking skills
- Self-motivation skills
- Management skills
- Leadership skills
- Decision-making skills
- Communication and negotiating skills
- Team-building skills
- Research and planning skills
CREATIVE THINKING SKILLS:
= Have d_____ and goals and think of creative ways to achieve these goals.
= Look for opportunities/g____ in the market.
= Find clever s______ for problems.
- Dreams
- Gaps
- Solutions
SELF-MOTIVATION SKILLS:
= Should be disciplined and motivated.
= Should be willing to use their _____ supply positively to build their business and work _____ towards making it a _______.
- Energy; hard; success
MANAGMENT SKILLS:
= Must have the _____ to manage their ____ and other people.
- Ability; time
LEADERSHIP SKILLS:
= Should be able to lead and ______ others, even when things seem uncertain.
- Motivate
