3603971
Description
Flashcards by Mason Kyte, updated more than 1 year ago
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Created by Mason Kyte
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 a entrepreneur? | A person who sets up a business from scratch and uses a variety of skills to achieve a businesses 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 others and communicate the business@ goals to achieve them. 2) Self-Evaluative Able to know what is success to 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 able to make changes and cope with unexpected changes . 7) Decision making is able to make effective decisions in the short and long terms. 8) organised - know the difference between urgent and vital. Is able to complete business related activities in timely fashion. |
| Skills of an effective entrepreneur Card 4 | 9) Communication - Is able to communicate effectively with both staff and customer. 19) Initiative - Is able to use their initiative to simplify and overcome problems with ease. |
| What is business enterprise? | Financial - Lending and investing money ti entrepreneurs or starting a business. Commercial - Selling goods and services to customers. Industrial - Concerned with creation and products if 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 fiance - business has over spent or lack future investment. |
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