1.5.1 ROLE OF AN ENTREPRENEUR Flashcards
(8 cards)
1
Q
whats an entrepreneur
A
person who is willing and able to create a new business idea and take risks in pursuing success
2
Q
what do entrepreneurs do ?
A
- organise resources
- make business decisions
- take risks
3
Q
intrapreneurship
A
practice of promoting entrepreneurial behaviour within a business
4
Q
advantages to intrapreneurship
A
- allows access to creative potential of employees
- creates a culture of ownership and engagement
- empowers employees
5
Q
barriers to entrepreneurship
A
- individuals ability to thunk creatively, take risks and identify opportunities (ENTREPRENEURIAL CAPACITY)
-access to finance - lack of training
- lack of confidence
- FEAR OF FAILURE
6
Q
whats a risk
A
when the outcome of a decision is known and considered
7
Q
whats an uncertainty
A
caused by unexpected factors outside of the entrepreneurs control (internal or external shocks)
8
Q
A
