Unit 19 - Role Of An Entrepreneur Flashcards
1
Q
Def: Entrepreneur
A
Individual who sets up and runs a business and takes risks associated with it
2
Q
Def: Intrapreneur
A
Employees who use entrepreneurial skills without having to risk their own money to develop initiative
3
Q
Stages in setting up a business
A
Idea - Research - Planning - Financing - Location - Resources - Launch
4
Q
Running and developing a business entails
A
Financial management
Administration
Marketing
Purchasing
Managing people
Production
5
Q
Barriers to entrepreneurship
A
Lack of finance
Lack of entrepreneurial capacity (skills and characteristics)
Becoming and employer
Legal barriers
Lack of ideas
Fear of failure
Aversion to risk
