Business Revision cards (Miss Cope) Topic 1

These revision cards cover topic one of Miss Copes lessons

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Characteristics of an Entrepreneur

An Entrepreneur Is

  • Anyone who organises and runs a business
  • Someone who has a flair for business ideas and has the confidence to be able to take risks involved in setting up a business

Key Characteristics:

  • Risk taking
  • Time and energy
  • Creative skills
  • Initiative
  • Interpersonal and communication skills

One in ten people are currently running their own business (10%) and a further 17% aspire to set up some time in the future

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What motivates an Entrepreneur


  • Willigness of action

Reasons for motivation:

  • Independance
  • Responsibility of having control
  • Making their own decisions
  • Enjoy seeing the finished product
  • Other responsibilities (child care)
  • Profit
  • Ethics (knowing between right and wrong)
  • Personal objectives (flexible hours, comfort)
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What motivates an Entrepreneur cont

Profit Motives:

  • To survive
  • Profit maximisation
  • Sales maximisation

Non-profit Motives:

  • Being your own boss
  • Working from home
  • To help others

Advantages of being Ethical:

  • Good Publicity
  • Additional sales
  • It helps others!
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