3603965
Description
Flashcards by Cameron Hodds, updated more than 1 year ago
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Created by Cameron Hodds
over 8 years ago
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| Question | Answer |
| What is enterprise? | Enterprise is the ability to achieve a positive result. In addition, using resources effectively. |
| What is an entrepreneur? | An entrepreneur is a person who sets up a business from scratch and uses a variety of skills to achieve the business' goals. An entrepreneur is able to take risks in order to be successful. |
| The skills of an entrepreneur: Card one | Leadership - Able to lead others and communicate the business' goals to achieve them. Self-evaluative - Able to know what is successful and what isn't. Able to draw up actions to make the business sucessful. |
| The skills of an entrepreneur: Card two | Knowledgeable - An expert within the business area Aspiration - Always aim high and sets high expectation of themselves and others. Visionary - Has optimistic view on how the business will develop. |
| The skills of an entrepreneur: Card three | Adaptability - is able to make changes and cope with unexpected changes. Decision Making - is able to make effective decisions in the short and long term. |
| The skills of an entrepreneur: Card four | Communication - is able to communicate effectively with both staff and customer. Initiative - is able to use their initiative to simplify and overcome problems with ease |
| What is business enterprise? | Financial - Lending and investing money to entrepreneurs or starting businesses. Commercial - Selling goods and services ti consumers. Industrial - Concerned with creation and products of goods and services. |
| Why do businesses fail? | Leadership is not effective and the owner is not investing enough time with their business. Competition is tough as competitors are offering cheaper goods, innovative products and better customer service. |
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