Pages in this set

Page 1

Preview of page 1
Business Revision Notes: 1AS.1

Enterprise




What is enterprise?

Willingness to undertake new ventures, initiative
Creativity to come up with new ideas and ways of doing things
Evaluate whether something is worth doing even with risks involved
To take advantages of new changes ­ methods, processes, demands in thing people want.…

Page 2

Preview of page 2
The Nature of economic activity and the problem of choice
We live in a world of great wealth and great scarcity (shortage)
We have limited resources but unlimited wants, needs
Poor people are unable to find the basic requirement for life yet rich people may not be
satisfy all of…

Page 3

Preview of page 3
What a business need to succeed
Factors of production



























Why many business fail early on





Page 4

Preview of page 4
The Role of the entrepreneur
Qualities an entrepreneur is likely to need for success
Innovation and creativity
Multiskilled
Selfmotivated
Ability to bounce back from the worst situation
Passion
Confidence
Independence
Risktaking
Leadership skills
Ability to manage finance
Decisionmaking
Vision
Commitment
Consistency
Courage
Stability
Charismatic
The role of business enterprise in…

Page 5

Preview of page 5
Business start-up by offer goods and services that meet the
needs of local or regional market. However, some will expand
their operations to the export market, noticing that other
Exports market may not have the same advantage in capital goods
therefore they could improve their value of nationals export
and…

Page 6

Preview of page 6




Comments

No comments have yet been made

Similar Business resources:

See all Business resources »