2781173
| Question | Answer |
| Enterprise | Refers to any attempt to start or do something new |
| Entrepreneur | The person who has the initiative and takes the risk to start an enterprise e.g. Mark Zuckerberg- Facebook |
| Where is enterprise relevant? | Business- setting up your own business Home- Growing your own vegetables -Renovating your home School- Getting involved in extra curricular activities Community- SHARE,SVP |
| Enterprise in the Public Service | Coillte is a commercial enterprise set up by the State to develop Ireland's forestry Fáilte Ireland was set up by the State to market the country as an International tourist destination County Enterprise Boards were set up to encourage enterprise and job creation at local level e.g. Cork Enterprise Board Many local councils have taken the initiative to organise community festivals, concerts and other events that improve the local quality of life e.g. Cork City Council |
| Why is enterprise important to entrepreneurs? | Personal satisfaction and achievement is boosted |
| Why is enterprise important for businesses? | Promotes profitability and continued survival and success. Intrapreneurship and initiative is encourages among employees. |
| Why is enterprise important for society? | Jobs are created and unemployment is reduced. Creativity is encourages and there is a continuous generation of new and improved goods and services |
| Intrapreneur | 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. |
| Risks of being an entrepreneur | May lose money May waste a lot of time Stress |
| Rewards of being an entrepreneur | Independence and freedom to be your own boss Personal satisfaction of offering goods and services that they believe are important Income: To earn a living and possibly become rich |
| Personal Characteristics of an entrepreneur | Confident and Proactive: Believe in themselves and their abilities. Strong can-do attitude. Prepared to initiate actions instead of waiting for others to do something. |
| Personal Characteristics of an entrepreneur | Determined/Motivated: Set realistic goals for themselves. Willing to make sacrifices for rewards later. Work hard and put in long hours to make the enterprise work. |
| Personal Characteristics of an entrepreneur | Innovative/Creative: Constant urge to find a better way to do things and tend to be sensitive to peoples needs for products and services |
| Personal Characteristics of an entrepreneur | Realistic Risk-Taker: Not reckless, but are willing to take risks if they think the possibility of success is reasonably high |
| Personal Characteristics of an entrepreneur | Decisive yet flexible: Able to make decisions quickly and under pressure |
| Skills of an entrepreneur | Identify opportunities |
| Skills of an entrepreneur | Set goals and plan: Create a vision of how they will satisfy a need. Identify the goal they want to move towards. Create self-motivation. |
| Skills of an entrepreneur | Effective Time management: Prioritise work, separate important tasks from less important tasks, ensure that most important jobs are done first. |
| Skills of an entrepreneur | Manage stress: Strong self-control. Able to stay calm and not get stressed when under pressure by difficulties or deadlines. |
| Skills of an entrepreneur | Get along with people: Able to establish trust and build good working relationships. This requires good social, communication and listening skills. |
Want to create your own Flashcards for free with GoConqr? Learn more.