Entrepreneur Flashcards
1
Q
Role of an entrepreneur
A
Innovative
Hardworking
Organized
Willingness to take a risk
2
Q
Enterprise Capability
A
Risk- taking
Decision- making
Innovation
Positive attitude
3
Q
Risk_ taking
A
Recognition- of risk of failure ->
possibility of high returns and belief in themselves and their new idea.
4
Q
Decision-making:
A
Understand(responsibility) _ every time decisions is made risk of loosing factor of production is possible_ opportunity cost.
Making calculated risks and decision.
5
Q
Innovation:
A
Can spot opportunities for enterprise in existing products and services.
eg. rebranding an existing product or service and presenting it in a different way.
6
Q
Positive attitude
A
a positive attitude is what drives entrepreneurs towards taking risks and facing and overcoming challenges.
