Economics and Business Studies AS Unit 1 1st topic

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  • Unit 1 - Characteristics of Entrepreneurs
    • Entrepreneurs - someone who owns and runs a business and earns money from it.
      • Skills
        • communication
        • Risk taking
        • Resilience
        • Determination
        • Innovation
      • Why?
        • Profit
        • Ethical
        • Satisfier
        • Work from home
      • Why important to the Uk?
        • Stimulates eco growth
        • Tax revenue for govt
        • Creates employment
    • Leadership Styles
      • Autocratic - making decisions without referring to anyone.
        • Advantages
          • Decisions made quickly and efficiently
        • Disadvantages
          • Makes workers feel useless
      • Consultative - decision making from different perspectives.
        • Advantages
          • All employees feel useful
        • Disadvantages
          • Strong opinions could make it difficukt
      • Laissez Fairre - leadership responsibilitesshared by all.
        • Advanrages
          • All employees do what they want to do
        • Disadvantage
          • Frustrated staff
    • McGregor Theories - suggests 2 fundamental ways of approaching employees
      • Theroy x - dislike work, need targets/punishments
      • Theory Y - enjoys work, seeks responsiblities

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