1.1 - Role of Business Enterprise and Entrepreneurship 0.0 / 5 ? Business Studies1.1 - Role of Business Enterprise and EntrepreneurshipGCSEOCR Created by: wanna get better gradesCreated on: 10-06-20 10:45 A person who takes the risk of starting and running a business enterprise Entrepreneur 1 of 16 The ability to see the need for a particular product Spotting an opportunity 2 of 16 The ability to design a product or service and plan the product Developing an idea 3 of 16 The ability to produce the product and marketing it Satisfying customers need 4 of 16 The characteristic where the entrepreneur thinks up the ideas and solves the problems Creativity 5 of 16 The characteristic where the entrepreneur is positive and believes in their own ability Confidence 6 of 16 The characteristic where the entrepreneur is not put off when difficulties or problems arise, but works hard to solve them Determination 7 of 16 The characteristic where the entrepreneur is prepared to put their own or other people's money at risk Risk Taking 8 of 16 If the business doesn’t succeed, the risk of losing savings (and other assets) to pay off debts, if an example of what? Financial Risk 9 of 16 The potential to make a lot of money is an example of what? Financial Reward 10 of 16 The strain of running a business can cause mental and physical illnesses is an example of what? Non-financial Risk 11 of 16 A non-financial reward which includes being in control of what you do and not being told to do by others Independence 12 of 16 A non-financial reward which involves feeling good because the business is a success Self Satisfaction 13 of 16 A non-fiancial reward which includes improving the lives of customers and providing socially responsible goods and services Making a difference 14 of 16 The benefits an entrepreneur receives from starting up and running a business. Rewards 15 of 16 The possible losses that an entrepreneur may suffer from starting up and running a business Risks 16 of 16
UNIT 1 - Business in the real world - Unit 1.1 - The purpose and nature of business 4.5 / 5 based on 3 ratings
Comments
No comments have yet been made