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Enterprise

Enterprise facts

TermDefinition
Enterprise When a individual or group of people take a risk and decide to start something new
Entrepreneur A person who spots a gap in the market and comes up with an idea that they can turn into a business in order to fill the gap
Social Enterprise A social enterprise that is not for profit that has a social or environmental aim
Decision making When an entrepreneur makes quick and clear decisions by weighing up the pros and the cons of the situation and choose the best option for the business
Risk taking Entrepreneurs take financial and personal risk and view failure as a learning experience
Determination Entrepreneurs are determined to finding a way of solving problems. They do not want to give up easily
Self-Motivation Entrepreneurs are motivated from within to succeed. They have the personal drive and ambition to achieve their goals
Self-Confidence Entrepreneurs believe in themselves and their ideas. They are not put off by other people’s opinions
Creativity Entrepreneurs think outside the box and come up with new ideas and new ways of doing things
Entrepreneur Skills Entrepreneurs possess a range of skills that help them to make their idea a success. Some include decision making, being proactive and human relations.
Being proactive Enterprising people take action and make changes before they need to be made rather than waiting for a situation or problems to arise
Networking This skill involves meeting new people and exchanging information. The people you meet may be useful to you in your professional or social life
Risk management Entrepreneurs can be exposed to commercial, physical and financial risks. They must identify these risks and find ways to stop the risk of this happening
Human relations This skill is used to build relationships with people and to bring out the best in them. Enterprising people use their human relations skills to help them.
Created by: Matthewkealy
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