Business & Enterprise 2.1

Kieran Ward
Flashcards by Kieran Ward, updated more than 1 year ago
Kieran Ward
Created by Kieran Ward almost 6 years ago
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What is Enterprise? Enterprise is the ability to achieve a positive result. in addition,using resources effectively.
What is an entrepreneur? 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.
Skills of an effective entrepreneur Card 1 1)Leadership-able to lead other and communicate the business goals to achieve them. 2)Self-Evaluative - Able to know what is success and not successful. Able to draw up actions to make the business successful.
Skills of an effective entrepreneur Card 2 3) Knowledgeable- An expert within the business area. 4) Aspirational- Always aims high and sets high expectations of themselves and others. 5) Visionary - Has Optimistic view on how the business will develop.
Skills of an effective entrepreneur Card 3 6) Adaptability - Is to make changes and cope with unexpected changes. 7) Decision Making - is able to make effective decisions in the short and long term. 8) Organised - Know the difference between urgent and vital. Is able to complete business related activates in timely fashion
Skills of an effective entrepreneur Card 4 9) Communication - is able to communicate effectively with both staff and costumer. 10)Initiative - Is able to use their initiative to simply and overcome problems with ease.
What is Business enterprise? Financial - Lending and investing money to entrepreneurs of starting businesses. Commercial - selling goods and services to costumers. Industrial - concerned with creation and products of goods and services.
Why do businesses fail? 1)Leadership is not effective and the owner is not investing enough time with their business. 2)Competition is tough as competitors are offering cheaper goods,innovative products and better customer service. 3)Mismanagement of finance - business has over spent or lack of future investment
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