Business Studies Unit 1

content on starting a business unit 1: chapter 1



Enterprise: almost any business or organisation can be called an enterprise, but the term usually refers to by which new businesses are formed and new products and services are created and brought to the market. Enterprises are usually led by an entrepreneur.

Enterprise skills: skills that allow an individual or organisation to respond effectively to changing market situations. They include problem-solving skills, thinking and acting innovatively and creatively, and understanding the importance of risk and uncertainty. The definition of enterprise capability used by the department for children, schools and families (DCSF) (formerly the department for education and skills DfES) includes the following skills; innovation, creativity, risk management, risk taking and a can do attitude.

Entrepreneurs: individuals who have an idea that they develop by setting up a new business and encouraging it to grow, They take the risk and the subsequent profits that come with success, or the losses that come with failure.

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Krupa Patel


This was quite helpful, but I would add more!!! 

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