A person who sees a gap in the market, takes a risk, collects the necessary resources to establish a business and they are responsible for all the profit and losses.
Entrepreneurs?
Opportunities, Risks, Profit, Resources, Growth
What is Entrepreneurship aimed at?
newproducts and services to customers.
current products and services in a new/ different market.
adapting/ improving on current services or products.
How do Entrepreneurs build a loyal customer base?
They satisfy the needs and wants of the customers.
What are Entrepreneurs always doing?
Always trying to make more profit.
What are the Characteristics of an Entrepreneur?
Creativity
Hi-risk tolerance
Opportunity seeking
Self-reliance
Determination
Innovation
Flexibility
Motivation
Opportunity seeking?
Entrepreneurs are people that are continually seeking new opportunities as they are often not satisfied with the current practices of doing things, or products and or services offered by businesses.+
They are seeking new opportunities to enable them to make profit by finding way to satisfy the customers needs/ wants.
In order to do this, the entrepreneur might have to start a new business venture or simply expand on it's breadth and depth of offerings. (additional products/ services or changing current products/ services).
Intrapreneur?
All of the entrepreneurial qualities and obtains all the same aims as an entrepreneur however they are an employee and are not the owner
