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Unit 2

TermDefinition
Enterprise Enterprise is when an individual or group of people take a risk and decide to start something new. Eg. Steve jobs and Apple
Entrepreneur Is a person who spots a gap in the market and takes personal and financial risks to try to fulfil it
Why do people become entrepreneurs -Being own boss -Varied work days -Unemployment -More money
Enterprise at home A teenager offers piano lessons to local students for a fee
Enterprise in school Group of teenagers organise charity event
Enterprise in new business Entrepreneur opens suit shop in business district to provide office wear
Enterprise in Government department Department of Health launched Healthy Ireland programme to improve health of the country
Enterprise in local community Group of locals establishes meals-on-wheels service for elderly in the community
Characteristics of entrepreneur -Decision making -Risk taking - Determination -Self motivation -Self confidence -Creativity
Skills of entrepreneur -Decision making -Being proactive -Networking -Risk management -Human relations -Realism
Intrapreneurship Is when employees of a business act like entrepreneurs and come up with new ideas etc.
Methods of Intrapreneurship -Training programmes -Rewards/Incentives -Workplace culture -Teamwork -Resource provider
Rewards of being an entrepreneur -Control -Income -Challenge
Risks of being an entrepreneur -Income -Decision making -Long working hours
Importance of enterprise in business -Encourages intrapreneurship -Greater efficiency -Spin off business -Business culture
Importance of enterprise in community -Encourages entrepreneurship -Wealth creation -creates employment -Community engagement
Created by: Lanaftz
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