548735
Description
Mind Map by jessie-nurse2oo, updated more than 1 year ago
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Created by jessie-nurse2oo
about 11 years ago
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ENTERPRISE
- SIX KEY QUALITIES OF A SUCCESSFUL ENTREPRENURS:
- DREAMER-Having a big idea of how something can be better and different
- INNOVATOR- demonstrating how the idea applied outperforms current products
- PASSIONATE- being expressive so that the idea wins approval from others
- RISK TAKER-pursing the dream without having all the resources needed at the start
- RISK TAKER!! Pursuing the dream without having all the resources needed at the start
- DOGGED COMMITTER-Staying with
the idea through the ups and downs
- CONTINUOUS LEARNER-
Constantly exploring and evolving
to do best practice
- DREAMER-Having a big idea of how something can be better and different
- RISK- FAILURE BY LOSS OR BEHIND PERSONAL WEALTH!
- There is insufficient demand for the product
- Competitors respond by taking action to force a new
enterprise out of business
- Competitors respond by taking action to force a new
enterprise out of business
- The cost of setting up and running
the business may be higher
than expected
- The business runs out of cash
- REWARDS-
- For taking a risk comes a reward- Like
making money
- Their own boss
- not answering to anyone else
- satisfaction of creating a business and passing
it on to their children
- satisfaction of creating a business and passing
it on to their children
- not answering to anyone else
- Their own boss
- For taking a risk comes a reward- Like
making money
- There is insufficient demand for the product
- OPPORTUNITY COST- Starting up a business, giving
up a high paid job?
- Helps evaluate the success of a new business- in
financial and nonfinancial terms
- Against the income and security that the
alternative job provided.
- Against the income and security that the
alternative job provided.
- Helps evaluate the success of a new business- in
financial and nonfinancial terms
- MOTIVES FOR
BECOMING AN
ENTREPRENEUR-
- TO BECOME WEALTHY-
- BEING ONES OWN BOSS- Want to make
their own decisions
- because they have an idea- they believe its great
- THE SATISFACTION THAT
RESULTS FROM CREATIVITY
- TO BECOME WEALTHY-
- GOVERNMENT SUPPORT FOR ENTERPRISE&ENTREPRENEURS
- EDUCATION- a topic in curriculum for all students at
school aswell as providing subsidised classes for adults
- PROVIDING A BUSINESS FRIENDLY ENVIRONMENT- Reducing legal barriers to starting a business and the amount of paperwork once the
business is trading
- FINANCIAL SUPPORT- Gov makes gurantees loans made to some small firms.
- provides venture c to some small and medium sized businesses a provides additions income for entrepreneurs during the crucial start up stage
- provides venture c to some small and medium sized businesses a provides additions income for entrepreneurs during the crucial start up stage
- ADVISE AND INFO
- Seeks to help to entrepreneurs deal with starting and managing businesses by providing guidance and training. EG
BUSINESS LINK
- Seeks to help to entrepreneurs deal with starting and managing businesses by providing guidance and training. EG
BUSINESS LINK
- EDUCATION- a topic in curriculum for all students at
school aswell as providing subsidised classes for adults
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