Business AS Unit One

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  • Characteristics of a successful entrepreneur - Chapter One
    • Characteristics
      • Hard Working
      • Motivated
      • Risk-Taking
      • Initiative
      • Creative
      • Resilience
      • Perserverance
    • Motivation?
      • Creativity - need to produce/build something
      • Self-actualisation - achieving a dream or ambition
      • Profit - to improve lifestyle and to make money
      • Satisfaction of making things happen
      • Independence - be your own boss
      • Ethical and green considerations - to do the 'right' thing
    • Leadership styles
      • Autocratic Managers - make all the decisions, they give orders without consulting anyone else. Can be described as dictational.
      • Democratic Managers - listen to other peoples ideas and opinions before reaching a decision. Tasks and responsibilities are likely to be delegated.
      • Paternalistic Managers - act like a father figure, consult with others but in the end take responsibility and make own decision.
    • McGregors Theory X & Y
      • Theory X Managers think that the workforce dislike work and need direction and control, without this and threat of punishment they wont work.
      • Theory Y Managers think that the workforce is capable of enjoying work and can be trusted to get on with things without close supervision.
  • Motivation?
    • Creativity - need to produce/build something
    • Self-actualisation - achieving a dream or ambition
    • Profit - to improve lifestyle and to make money
    • Satisfaction of making things happen
    • Independence - be your own boss
    • Ethical and green considerations - to do the 'right' thing

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