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Business - Enterprise Chapter 17
Description
Detailed mind map on enterprise.
No tags specified
higher level
Mind Map by
Jonathan McHugh
, updated more than 1 year ago
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Created by
Jonathan McHugh
over 5 years ago
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Resource summary
Business - Enterprise Chapter 17
DEFINITION
The ability of a person or group to:
Creatively generate and build ideas
Identify opportunities for innovation
Turn the opportunities into practical and targeted actions
Characteristics
Realistic Risk Takers:
willing to risk money and time in setting up a business.
Only if they have realistic hope of success
Innovative/creative
Being able to see problem and oppurtunites and solving them creatively by doing something in a new or different way
Proactive
Prepared to use their own initiative and make things happen, rather than waiting for someone else to do it
Flexible
Accept change as normal
Learn from their mistakes and failures and can adapt when things don'tgo according to plan.
Self-confident
Believe in themselves and in their business idea.
Decisive
Have the ability to make decisions quickly and take responsibility for the actions and decisions they make.
Determined/resilient
They do not give up when faced with obstacles.
They are good at tacking problems.
They stick with the task until it is completed.
Skills
Identify opportunities
Spot a need or gap in the market that isn't being met.
They seize this opportunity
Make Decisions
Take into account all info available to them when making decisions and make them within a reasonable time
Manage Time
Prioritise tasks and make the best use of time.
Human Relations Skills
Have the ability to get on with people. They do this by having good communication skills.
Reality Perception skills
Use their common sense to see things as they are and not as they want them to be.
Manage Stress
Can deal with stress of running a business day to day. they remain calm when faced with difficulties.
Plan and Set Goals
Learn to set goals for themselves and their business and put plans in place to achieve these goals
Assess and Manage Risk
Measure risk involved in potential course of action and take steps to minimise these risks.
Entrepreneurs
An entrepreneur is a person who takes the initiative and risk business in the hope of making a profit.
Rewards
Your own boss.
You make all decisions.
Flexible Hours.
Satisfaction
You keep all profit.
Risks
You may lose money if business is a failure.
May need to work long hours
May find it difficult to take time away from business.
Sales may vary, so will your income.
May not have necessary skills
Social Enterprise
Puts people and community ahead f personal gain.
Cultural Enterprise
Exists to provide consumers locally/nationally with access to visual arts, theatre, film, music, radio, festivals or events
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