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1.1 Enterprise and Entrepreneurship
Risk and Reward
Reward
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Created by
vaisaali
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Cards (11)
What is a key factor involved in starting a business?
Risk
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Why do some entrepreneurs start a business based on intuition?
They believe strongly in their
idea
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What do most entrepreneurs do before starting a business?
Calculate risks and weigh
potential
rewards
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What are the potential rewards of starting a business?
Profit
Business success
Independence
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What is the primary driving force behind many business start-ups?
Making money
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How can profits benefit a business?
They help the business
survive
and grow
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What incentive does profit provide for entrepreneurs?
To
earn
more
than
working
for
someone
else
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What does success in business mean for many entrepreneurs?
Seeing their ideas become
popular
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What are some forms of business success for entrepreneurs?
A growing business
A positive reputation
Winning business awards
Becoming established
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Why do some entrepreneurs desire independence in their work?
To
control
their
own
decisions
and
hours
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What motivates some entrepreneurs to set up their own business?
To pursue their
interests
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