enterprise Flashcards
1
Q
What is an enterprise
A
Another word for business
2
Q
SME
A
Small medium enterprise
Fewer than 250 employees
Around £500 million in value
3
Q
How can satisfying needs and wants give opportunities to entrepreneurs?
A
- New markets are available
- An entrepreneur can take advantage of this
4
Q
Roles of an entrepreneur
A
- Assisting successful start up of the business
- Organising resources
- Being innovative
- Showing initiative in exploiting market changes
5
Q
financial motives of an entrepreneur
A
- profit
- financial security
- survival in the market
6
Q
non financial motives of an entrepreneur
A
- Control over life
- Opportunity to use talents
- Be your own boss
- Serve the community
7
Q
Characteristic of an entrepreneur
A
- Hard working
- Innovtative
- Proactive
- Risk taker
8
Q
Why are entrepreneurs important
A
- Solve a problem
- Meet a demand
- Creates jobs
9
Q
What is the primary sector
A
The sector concerned with the extraction of raw materials
10
Q
what is the secondary sector
A
The sector concerned with converting raw materials into a manufactured product
11
Q
what is the tertiary sector
A
The sector which is concerned with selling goods and services
