Entreprenuers

Question 1

What is a business

Answer 1

An organisation that exists to provide goods or services to a consumer

Question 2

What is a good

Answer 2

Tangible, physical products

Question 3

What is a service

Answer 3

Intangible products e.g. dentistry

Question 4

What are the 5 entrepreneurial roles

Answer 4

1.Creating and setting up a business
2.running and expanding
3.innovating
4.barriers to entrepreneurship
5.anticipating risk and uncertainty

Question 5

What is intraprenuership

Answer 5

People within a business creating or discovering new business opportunities leading to creation of new parts of a business

Question 6

What are barriers to entrepreneurship

Answer 6

-struggles in advertisement
-hiring employees
-competition in price
-image or branding of product
-failure in products
-mental health and stress

Question 7

What are entrepreneurial characteristics

Answer 7

1.creative
2.hard working
3.resilient
4.initiative
5.self confidence
6.risk taking

Question 8

What are entrepreneurial skills

Answer 8

1.communication
2.team working
3.problem solving
4.organisation
5.numeracy
6.information technology