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Business

Enterprise

TermDefinition
Enterprise When an individual or group 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 they can turn into a business
Social enterprise Non profit has social or environmental aim
Decision making Entrepreneurs make quick and clear decisions they weigh up pros and cons and choose the best option for the business
Risk taking Entrepreneurs take financial and personal risks they view failure as a learning experience
Determination They are determined to find a way to solve problems and don’t give up easily
Self motivation Motivated from within to succeed they have personal drive
Self confidence Believe in themselves and their ideas they aren’t put off by others
Creativity Think outside the box and come up with ideas
Being proactive Taking action and making change before they need to be changed rather than waiting for a problem to happen
Networking Meeting new people and exchanging information
Risk management Entrepreneurs must identify risks and find ways to reduce them
Human relations Skill is used to build relationships and bring out the best in them
Realism To recognise when things are going wrong and take positive changes
Intraprenuership Employees of a business act like entrepreneurs within a business they come up with new ideas and ways of solving problems or to create new products
Created by: Sophieholmes
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