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LC Unit 2

Enterprise exercise in relation to characteristics and skills

QuestionAnswer
Confident The ability to be self-reliant
Leader The ability to give direction to others
Flexible The ability to adapt to change
Realistic Having a vision that is attainable
Risk taker Taking reasonable chances
Decisive Choosing a course of action (within a reasonable time frame)
Communicator The ability to pass a message effectively to others and to listen to others to decipher meaning
Energetic Taking action, working long hours
Creative/innovative The ability to use new ways to solve problems
Timing Making decisions on time, e.g. to place an order before the end of the month in order to avail of a discount
Planning and goal setting Setting realistic goals and making an effective plan to achieve those goals
Managing people The skills of motivating, leading and communicating with staff
Decision making Making choices which affect the future of the business, learning from experience and taking decision accordingly
Assessing and managing risk Carrying out adequate research before committing to a course of action. Estimating the possible negative effects of any decision he/she makes
Communicating An entrepreneur must be able to convey his/her ideas to all the stakeholders of the business
Idea generation/spotting a gap in the market An entrepreneur should always be on the lookout for new ways of doing things or new market niches
Time management/prioritising An entrepreneur has to rank the tasks to be achieved. The most urgent task should be placed first on the list
Stress management Avoiding overwork which may cause tension and could lead to the entrepreneur making poor decisions. Making time to spend with family, participate in hobbies/leisure, etc
Four skills needed by enterprising people Human relations, time management, Planning and decision making
Created by: ms.scahill
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