Characteristic of entrepreneurs

missiep
Mind Map by missiep, updated more than 1 year ago
missiep
Created by missiep over 6 years ago
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business chapter 1
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Characteristic of entrepreneurs
1 Entrepreneur = person who makes their ideas happen
2 Characteristic = personal quality
3 Profit = financial reward revenue - costs
4 Regulations = rules businesses must follow e.g. laws made by parliament, regulations made by organisation to regulate an industry
5 capital investment = spending on equipment & premises
6 Working capital = money funding the business to run
7 Entrepreneurial characteristic
7.1 Initiative = acting without being told what to do or someone starting for you
7.2 Hard-working= willing to work long hours and do difficult tasks
7.3 Resilience = ability to deal with tricky situations
7.4 Creative = original ideas
7.5 Self-confident = belief in own ideas
7.6 Calculated risks = risks you have considered the probability of success or failure for
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