Unit 20 - Entrepreneur Flashcards
1
Q
Characteristics (5)
A
Self determination
Judgement
Commitment
Initiative
Risk taking
2
Q
Skills (5)
A
Negotiating
Decision making
People management
Financial management
Organising
3
Q
Why people become entrepreneurs (financial) (2)
A
Profit maximization
Profit satisficing
4
Q
Def: profit satisficing
A
Make enough profit to satisfy business owner
5
Q
Def: profit maximisation
A
Attempt to male as mush profit as possible in a given amount of time
6
Q
Non financial motives to become and entrepreneur (4)
A
Ethical stance
Social enterprise: improving human and environmental well being
Independence
Working from home
