Business Unit 1 0.0 / 5 ? Business Studies & EconomicsUnit 1ASEdexcel Created by: LauraCreated on: 26-03-14 21:17 Characteristics Personality traits in an entrepreneur 1 of 9 Name 3 charactersistics Risk taker, motivation, resilience, confidence, commitment, modest, creative 2 of 9 Motives Reasons for doing something 3 of 9 Name 3 motives capital, freedom, good market opportunity, knowledge of industry, dissatisfied with job 4 of 9 Oppurtunity Cost The benefit from the next best alternative that you have given up 5 of 9 Trade off Choosing between two alternatives 6 of 9 Give 3 concerns for an entrepreneur Competition, financial management, work load, time, legislation 7 of 9 Autocratic leadership Leader makes all decisions without input 8 of 9 Paternalistic leadership Leader has overall decision but considers employees welfare 9 of 9
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