Starting A Business -Enterprise

Question 0

Enterprise skills

Answer 0

Skills that allow an individual or organisation to respond effectively to changing market situations,including problem-solving skills,thinking and acting innovatively and creatively,and understanding the importance of risk and uncertainty.

Question 1

Enterprise

Answer 1

Almost any business or organisation can be called an enterprise but the term usually refers to the process by which new businesses are formed and new products and services created and brought to the market.

Question 2

Entrepreneurs

Answer 2

Individual who have an idea that they develop by setting up a new business and encouraging it to grow.They take the risk and the subsequent profits that come with success or the losses that come with failure.

Question 3

Opportunity cost

Answer 3

The ‘real cost’ of taking a particular action or the next best alternative forgone.