Types Of Enterprise - Chapter 7 Flashcards
What does enterprise mean?
Enterprise is the actions taken by someone who shows the initiative to take the risk of setting up and running a business.
What are the three types of enterprise?
Financial enterprise, social enterprise and cultural enterprise.
What is a financial enterprise?
Financial enterprise means establishing a business to make a profit by selling a product/service.
What is the importance of a Financial Enterprise?
It creates jobs for the local community and helps people to develop business skills.
What is a social enterprise?
Social Enterprise means putting people and the community before profit.
What is the importance of Social Enterprises?
it supports vulnerable people and ensures a better life for all in the community.
What is a cultural enterprise?
exists to provide consumers with access to visual arts, theatre, traditions, film, radio, festival events.
What is the importance of Cultural Enterprises?
it showcases beauty, skills and talents while having the potential for promoting tourism, making a profit and creating jobs.
