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unit 2

key words for unit 2 - Business

TermDefinition
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.
Created by: alanm13
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