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| Question | Answer |
| Six Characteristics of Entrepreneurs | Initiative, Hard- Working, Resilient, Creative, Self Confident and Taking calculated risks |
| Three examples of a Profit Motives | Earning a larger income Provide for Family Sale & Profit maximisation |
| Three examples of non-profit motives | Being your own Boss Ethical/Help others Continuing a Family Business |
| Definition of a Entrepreneur | Someone who has a flair for business ideas and has the confidence to take the risks involved in setting up a business |
| Name the three Leadership Styles | Autocratic Paternalistic Democratic |
| Which leadership style is effective when: Quick decisions are needed? | Autocratic |
| Which leadership style is effective when: Creativity is needed? | Democratic |
| What is a problem with a Paternalistic leadership style? | Experienced staff may feel patronized or under valued |
| What is a problem with a Democratic leadership style? | When decisions need to be made quickly |
| Three factors which effect leadership styles | The Workers The Task The leaders personality |
| Name the two types of Extreme managers | Theory X Theory Y |
| Theory X believe workers are... | Lazy Respond to Threats Avoid Responsibility |
| Theory Y believe workers are... | Keen Will work well on their own Respond to Rewards |
| What does a 'Laissez-Faire' Leadership Style mean? | It means workers are left to their own devices |
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