Characteristics and motives of an Entrepreneur

Gladys Mba
Mind Map by Gladys Mba, updated more than 1 year ago More Less
Gladys Mba
Created by Gladys Mba about 5 years ago
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GCSE, AS, A-Levels Business Mind Map on Characteristics and motives of an Entrepreneur, created by Gladys Mba on 10/13/2014.
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Characteristics and motives of an Entrepreneur
1 Creative
1.1 The entrepreneur will have to be creative to come up with business plans and ideas as well as get out of tricky situations
2 Hard-working
2.1 Entrepreneurs will have to put in time and effort into a business to get the idea of the ground. They will have to work hard to make sure the business doesn't collapse especially in the first few years.
2.2 Work needs to be put into research for the business
3 Resilient
3.1 It often takes time for a business to start doing well so the entrepreneur will have to push through the bad times.
3.2 Entrepreneurs need to be able to stand firm when haggling with others and not back down so they get the best deal
4 Self-confident
4.1 Confidence is essential when battering with other businesses such as suppliers to get the best deal
4.2 Entrepreneurs have to trust themselves to make he best decision for them and their business
5 Risk taking
5.1 Business will have a risk o failing so an entrepreneurs has to evaluate the risk and decide if it is worth taking for business ideas, change in product, how the money is spent etc
6 Initiative
6.1 Entrepreneurs taking action instead of spending too much time planning
7 Motives
7.1 Independence
7.2 Generate more money
7.2.1 Needed to make business successful and productive
7.3 Fill gap in market
7.4 More flexible work
7.5 Fame
7.6 Help community or cause
7.6.1 Makes running thebusiness more worthwhile and satisfing
8 Ethical stance
8.1 The business and its employers need to be ethical
8.1.1 Unethical businesses lose costumers
8.1.2 Unethical employees lose jobs
8.2 Unethical Business
8.2.1 Animal testing
8.2.2 Child labour
8.2.3 Zero hour contracts
8.2.4 Pollution
8.2.5 Bribes/ Greedness
8.2.6 Tax avoidance
8.3 Unethical Employees
8.3.1 Damaging good
8.3.2 Unhygenic
8.3.3 Stealing items
8.3.4 Selling company secrets
8.3.5 Slacking
8.3.6 Bullying
8.3.7 Using business resources for personal needs
8.4 Ethics: Acting in a way that is considered to be right
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