business unit 2: Enterprise

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  • Created by: Harpreet
  • Created on: 19-05-13 18:19
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  • Enterprise
    • involves identifying new business opportunities
      • then taking advantage of them
      • always the risk of failure
        • but also reward: profits
    • can be to start a new business
    • or to help an existing
      • by coming up with new ideas
        • can help to expand
    • a good business idea is for a product/service like no other
      • where there is a gap in the market
        • market niche
          • Untitled
    • means taking risks
      • key resource : money
        • to buy equipment + pay workers
    • entrepeneurs
      • often use their own money
        • sometimes borrow money from bank
          • or other investors
      • will hope they can make enough profit to pay back
        • pay back any money borrowed
          • if not, entrepreneur will lose money they invested
      • they will research  and plan carefully
      • they will consider the consequences of failure
      • need particular qualities
        • ability to think ahead
        • innitiative
        • drive + determination
        • decisiveness
        • networking skills
          • identifies who can lend money
          • their resources
        • leadership skills + persuasion
        • willing to take calculated risks
        • to plan


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