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Mr Evans

on 3 December 2014

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Transcript of Enterprise

Chapter 5
Enterprise involves people using their initiative to come up with ideas that they can turn into a business , when they take the risk to set up a business , they become an entrepreneur !
Enterprise skills
The skills of an entrepreneur are:

Planning and goal setting
Assessing and managing risk
Applying ideas
Decision making
Managing people
Stress management
Characteristics of entrepreneurs
Risk-taking :
prepared to set up business
Ability to organise :
plan and organise business
: ability to lead employees and be decisive in decision-making
Achievement :
determined to achieve success in business
Self-confidence :
confidence when a problem arises
Motivation :
the ability to stay motivated and motivate employees
Customer-focused :
understanding customer satisfication ( product )
Control :
contoling business efficiently
: work long hours to make business a success
Innovative :
have business ideas that can exploited profitably

A person who sets up a new business and takes on the financial risk (capital seed) and personal risk to achieve the aim of making profit
The importance of enterprise :
Enables entrepreneurs to provide the market with products required by customers
Improve the Balance of trade
Creates job
Consumers benefit from a wider choice of goods
lower prices due to competition

Enterprise :

Enterprise Everywhere !
Enterprise at home :
mange the household > income never falls over expenditure
Enterprise at school
: fundraising

Enterprise in work :
Intrapreneur > employee of a business that shows entrepreneurial qualities which benefits the business
Full transcript