Term 1 Flashcards
1
Q
What is entrepreneurship?
A
When you set up a business and take on financial risks in the hope of profit
2
Q
What are 5 characteristics of an entrepreneur?
A
- Curiosity
- Resilience
- Determined
- Creative
- Adventurous
3
Q
Sam walton first failure and why?
A
Ben Franklin Variety Store, He gave away 5% of sales to landlords which made the company go bankrupt
4
Q
How did Sam Walton learn from his mistake?
A
He knew when opening Walmart not to give a lot of money to the landlord or the business will go bankrupt and to keep his head high and be confident in himself
