mod 1 Flashcards
what is an entrepreneur?
– a person who recognizes an opportunity and organizes and manages a business, assuming the risk for the sake of potential return
who is willing to risk his/her time and money in order to start /run a business with the hope of earning profit in return.
an entrepreneur
what is an entrepreneur??
One who creates business
* In the face of risk and uncertainty
* For the purpose of achieving profit and growth
* By identifying opportunities
* And assembling the resources to capitalize on them
Traits of an entrepreneur
- Vision
- Passion
- Flexibility
- Risk Tolerance
- Persistence and resilience
- Creativity/Innovation
types of entrepreneurship
- Small business
- Large company
- Scalable startup
- Social
- Innovative
- Hustler
- Imitator
- Researcher
- Buyer
entrepreneurs who owns and manages his/her own business
small business entrepreneurs
small business entrepreneurs..
make profit to support their family and modest lifestyle
advantages of small business ownership
o Independence
o Financial gain
o Control
o Prestige
o Equity
o Opportunity