UNIT 7,8 Local Voluntary Organisations/Community Enterprises +Enterprise Activity Flashcards
What is an entrepreneur?
A person who sets up a business to develop an idea for profit.
Name 3 qualities of an entrepreneur.
risk-taking, confident and innovative .
What is a business plan?
A document outlining business goals, market research, strategies, and financial projections.
What are fixed costs?
Costs that stay the same regardless of business output, e.g., rent.
What are variable costs?
Costs that change depending on production, e.g., raw materials.
What is cash flow?
The movement of money in and out of a business.
What are the main types of business ownership?
Sole trader, partnership, limited company.
What is market research?
Gathering information about market trends and customer needs
What is the role of enterprise in society?
Creates jobs, improves standard of living, promotes innovation.
Name 2 types of enterprise activities.
Setting up mini-companies, organising fundraising events
List 3 steps in planning an enterprise activity.
Idea generation, research, planning.
Name 3 skills developed by taking part in enterprise activities.
Teamwork, decision-making, time management.
Why is evaluating an enterprise activity important?
To assess what worked well and what can improve next time.
name two sources of finance for a business
Bank loan, personal savings.
What is career investigation?
Researching careers to make informed choices about your future.
Name 2 factors to consider when choosing a career.
Interests, job availability.
What is a CV?
A document listing qualifications, experience, and skills for job applications.
What are transferable skills?
Skills like communication and teamwork that can be used in many jobs
What is an interview?
A meeting where an employer assesses a candidate for a job.
Name 2 methods of career investigation.
Online research, interviews with professionals.
Why is career investigation important?
It helps match personal skills to suitable career paths.
What is a career portfolio?
A collection of documents showcasing qualifications and achievements.
Name 2 ways to find job opportunities.
Online job boards, networking.
What is included in a Career Investigation Report?
Career description, skills required, qualifications needed, sources of information.
