1.1 Role of business enterprise and entrepreneurship

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Created by
Yusuf Ahmed

Cards (8)

  • 3 purposes of business enterprise and entrepreneurship
    -spotting and opportunity
    -Developing an idea
    -Satisfying customer needs
  • What is an entrepreneur?
    A person who takes risks of starting and running a business
  • Spootting an opportunity
    The ability to see the need for a particular product or service
  • 4 characteristics of an entrepreneur
    -confidence
    -creativity
    -determination
    -risk-taking
  • Financial risk of being an entrepreneur
    -risk of losing savngs if the business dosent succeed
  • Financial reward of an entrepreneur

    -The potential to make alot of money
  • Non-financial risk of being an entrepreneur
    -physical strain
  • Non-financial reward of being an entrepreneur
    -improving lives of customers