Chapter 4- Entrepreneurs And Enterprise Flashcards Preview

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Flashcards in Chapter 4- Entrepreneurs And Enterprise Deck (11)
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0
Q

What is an entrepreneur?

A

The person who has the initiative and takes the risk to start an enterprise.

1
Q
  1. What is enterprise?
A

Refers to any attempt to start or do something new.

2
Q
  1. Where is enterprise relevant?
A

Business, the house, schools, community, public service, at work.

3
Q

What is an intrapreneur?

A

Employees working within an organisation who use their initiative to act like entrepreneurs. This means coming up with new products, ways to reduce costs or some other way in which to improve the business.

4
Q
  1. What are the potential rewards and risks of becoming an entrepreneur?
    Rewards:
A

Independence
Personal satisfaction
Income
Creativity and new challenges.

5
Q

Risks:

A

May lose money
May waste a lot of time
Stress.

6
Q
  1. What are the personal characteristics of entrepreneurs?
A
Confident and pro-active 
Determind/motivated
Innovative/creative 
Realistic risk-takers
Decisive yet flexible.
7
Q
  1. What are the learned skills of entrepreneurs?
A
To identify opportunities
To set goals and plan
Effective time management 
Manage stress
Get along with people.
8
Q
  1. Why is enterprise important?

For entrepreneurs?

A

For personal satisfaction and sense of achievement is boosted.

9
Q

For business?

A

Promotes business profitability

Intrapreneurship.

10
Q

For society?

A
Jobs are created and unemployment is reduced
Local and national self-confidence
Creativity is encouraged
Charitable services
More taxes for the government.