Chapter 3 Flashcards
Entrepeneur
Person who see opertunities Gater resources Grow buisness Meet needs of comunity Take risks
Entrepeneur must consider
Need of comunity (basic/other) needs
Creativity
Challenges of entrepreneurs
To find right idea/opertunity to braek into market
Attaining right resources
High cost of internal roles/relationships
Benifits of an entrepreneur
More employment opertunities
Creation of more industries
Income generation = less social problems
Team namibia
Local organization whose aim is to promote buying/selling local products
Entrepeneur characteristics/skills needed to overcome challanges
Knowledge/education Creativity Natural skill/ability Identifying opertunities Experience
Entrepreneurs whant to
Act independently
Seize opportunities
Satisfy needs
Generate own income
Characteristics of successful entrepreneurs
Seek opertunities Seek info Persuasiveness Commitment Perseverance Creativity Inovativeness Taking risks
Goal setting
Simple Measurable Attainable Relevant Time bounded
Why small buisnesses fail
Lack of market research
Lack of good planning
Recisting urge to ask for help
Benifit of being an entrepreneur
Creativity
Unlimited potential income
Work independently
Give orders
Challenges of being an entrepreneur
Long hours working
No stable income
Uncertain future
Poor control/planning
Entrepreneurship
Ability to see buisness opertunities
Transform them into a buisness
By use of creative/inovative prosesses
