Economics and Business Studies AS Unit 1 1st topic
- Created by: Charlotte Hall
- Created on: 26-12-12 16:29
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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
- Skills
- Leadership Styles
- Autocratic - making decisions without referring to anyone.
- Advantages
- Decisions made quickly and efficiently
- Disadvantages
- Makes workers feel useless
- Advantages
- Consultative - decision making from different perspectives.
- Advantages
- All employees feel useful
- Disadvantages
- Strong opinions could make it difficukt
- Advantages
- Laissez Fairre - leadership responsibilitesshared by all.
- Advanrages
- All employees do what they want to do
- Disadvantage
- Frustrated staff
- Advanrages
- Autocratic - making decisions without referring to anyone.
- McGregor Theories - suggests 2 fundamental ways of approaching employees
- Theroy x - dislike work, need targets/punishments
- Theory Y - enjoys work, seeks responsiblities
- Entrepreneurs - someone who owns and runs a business and earns money from it.
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