entrepreuneurs and entreprise
- Created by: Katherine
- Created on: 08-11-12 14:34
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- Enterprise and Entrepreneurs
- Key terms.
- Calculated risks - risk decisions based on a careful comparison of the risks set agaisnt the rewards expected from a decision.
- Entrepreneur - someone who owns and poerates their own business, assuming the responsibility, risk and rewards for that business.
- Mentor - an experience adviser to be there when needed.
- Skills needed by a entreprenuer
- Self critical
- Confident
- Innovative
- Passionate about the idea
- open minded
- develp ideas
- take risks
- Motives for being an entrepreneur
- Making money
- Help people with a service
- looking for a challenge to prive themselves
- For greater satisfaction
- control over working life
- spotting an opportunity
- improve an existing product
- Good entrepreneurs
- Take calcuated risk
- Launch new ideas in reponse to changing needs
- accept that at the start of a new business you will make a loss
- Plan cash flow - so manage expenditure
- Bad entreprenuers
- lack of planning
- ignore risk
- act to fast
- make large changes
- no back-ups
- spend freely
- characteristics
- understanding the market
- determination
- passion
- persuasive abilities
- to build relationships with others
- Key terms.
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