1
Q
What is an entrepreneur?
A
A person who owns and runs their own business and takes risks.
2
Q
What is enterprise?
A
The initial spark and idea for a business and the willingness by an individual to show initiative, take a risk and undertake a new adventure.
3
Q
Enterprises are another word for ________
A
Businesses
4
Q
Name the 3 main enterprise skills?
A
- Risk-taking
- Showing initiative
- Willingness to undertake a new venture
5
Q
What is the importance of risk taking?
A
Entrepreneurs take risks when they start their own business. There is a chance that their businesses will not survive and therefore they risk their own time, livelihood and money. It is important because new businesses create jobs and wealth in the economy.
Business Studies
flashcards
Decks in class (35)
# Cards
-
Businesses - Unit 11
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Understanding Customer Needs - Unit 110
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Market Mapping - Unit 14
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Competition - Unit 13
-
Added Value - Unit 14
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Franchising - Unit 16
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Enterprise - Unit 15
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Thinking Creatively - Unit 16
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Questions Entrepreneurs Ask - Unit 14
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Invention And Innovation - Unit 17
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Taking A Calculated Risk - Unit 14
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Other Important Enterprise Skills - Unit 13
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Objectives When Starting Up - Unit 14
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Limited Liability - Unit 13
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Recruiting, Training And Motivating - Unit 13
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Customer Focus - Unit 12
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The Marketing Mix - Unit 1 and 39
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Start-up Legal And Tax Issues - Unit 15
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Marketing - Unit 33
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Market Research - Unit 33
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Product Trail And Repeat Purchase - Unit 35
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Product Life Cycle - Unit 317
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Branding And Differentiation - Unit 34
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Design And Research Development - Unit 33
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Managing Stock - Unit 37
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Managing Quality - Unit 33
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Cost Effective Operations And Competitiveness - Unit 33
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Effective Customer Service and customer satisfaction - Unit 1 and 33
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Consumer Protection Laws - Unit 34
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Improving Cash Flow - Unit 36
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Improving Profit - Unit 37
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Break-even Charts - Unit 311
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Break-even Analysis - Unit 34
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Finance Growth - Unit 30
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