Enterprise

Description

Business Unit 1 Mind Map on Enterprise, created by Charlotte Webber on 16/05/2013.
Charlotte Webber
Mind Map by Charlotte Webber, updated more than 1 year ago
Charlotte Webber
Created by Charlotte Webber almost 11 years ago
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Resource summary

Enterprise
  1. Enterprise- a new business brought into a market
    1. Entrepreneur- a person who has an idea and sets up a business
      1. Characteristics
        1. Determination
          1. Passion
            1. Ability to spot advantages and disadvantages of their business
              1. Vision, creativity, innovation
                1. Motivation
                  1. Willing to take risks
                  2. Opportunity Costs- the next best thing that you could have chosen but did not
                    1. Risks
                      1. Bankrupt
                        1. Failure
                          1. Debt
                            1. No Pension
                              1. Copycats
                              2. Rewards
                                1. Life time achievement
                                  1. Gain goals
                                    1. Earn money
                                      1. Market monopoly
                                        1. Boss of own hours
                                          1. Provide work for families
                                          2. Government support
                                            1. Reduce business taxes
                                              1. encourage business start ups
                                                1. make it easier to get finance
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