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Business 5th year

5th year business

TermDefinition
Entrepreneur person who starts/sets up a new business risk factors of production
Entrepreneurship activity of carrying out/setting up a business
Proactive "Get up and go" do things without being asked
Reactive only try and sort things once a problem arises
Networking connecting with people (meeting)
Intrapreneur employee comes up with new ideas within a business
Innovation entrepreneur skill of identifying new ideas
Human relations Entrepreneur skill of dealing with people
Planning setting goals/targets to be acheived
Risk management identifying and minimizing risks(insurance)
SWOT Strengths Weaknesses Opportunities Threats
Time management Organizing jobs from most to least important
Factors of production Land-rent Labour-wages Capital-interest Enterprise-profit
Why become an entrepreneur ? Own boss/make all decisions Keep all profit/flexible hours Made redundant so set up themselves
Characteristics of an Entrepreneur Hardworking/ruthless flexible/determined innovative/ambitious decisive dedicated
Skills of an entrepreneur time management/risk management human relations decision making/innovation
Importance of enterprise creates jobs and spin off industries pay taxes (so good for government) Improves the standard of living provides work experience/training sponsorship (jerseys for local club)
Created by: Jaegan26
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