click below
click below
Normal Size Small Size show me how
unit 2
key words for unit 2 - Business
Term | Definition |
---|---|
Decision making | skill of an entrepreneur |
enterprise | Involves using your initiative to identify some need and then taking the steps to satisfy that need. |
Entrepreneur | Someone who sets up a business. |
Goals | Objectives set for the future to be achieved. |
initiative | The ability to do something without been told to. |
Innovation | using something original to meet a new requirement. |
Networking | Exchanging info or services among individuals groups or services. |
Planning | The management activity of setting goals for the future and devising strategies to use to achieve them. |
Proactive | Having an idea and taking the appropriate action to get that idea to get it up and running. |
Reactive | reacting to change for an entrepreneur |
Reality preception | The ability to see things as they really are,and not just as you would prefer them to be. |
Risk Management | taking steps to reduce the risks a business is exposed to. Businesses hire security guards to minimise the risk of theft. |
SWOT | Strengths weakness Opportunities threats. An analysis of the challenges and opportunities facing a business |
Time management | Getting all the important jobs done in the time available |
Creative | developing new ideas. |
Flexible | The ability to adapt plans as circumstances change. |
Self-motivated | The ability to push yourself to achieve your goal. |
Ruthless | The ability to put your business ahead of anything |
Delegate | Passing some responsibility to reduce your workload |
Intraprenuer | the employer in a business who comes up with business ideas. e.g Microsoft XBOX |
skills of an entrepreneur | Future focused. ability to delegate. decision making. |
Characteristics of an entrepreneur | Creative. Innovative. Risk taker. Confident. Decisive. Determined. Flexible. Resilient. Hard Worker. |