Scribd Logo
Upload

Welcome to Scribd!

  • CH 1 Entrprise

    Uploaded by

    Fiona
    22 views17 pages
    An entrepreneur is someone who takes on the financial risk of starting a new business venture. They must have ideas for new businesses, invest their own savings, and take on risk while being responsible for managing the business. Key characteristics of successful entrepreneurs include innovation, self-confidence, leadership skills, motivation, and the ability to handle multiple tasks. Some challenges entrepreneurs face are identifying successful business opportunities, obtaining sources of capital, dealing with competition, determining a business location, and building a customer base. Common reasons why businesses fail include a lack of record keeping, insufficient cash flow and working capital, poor management skills, and changes in the business environment. Entrepreneurship can positively impact a country's economy through job creation, economic growth,

    Original Description:

    Original Title

    Ch 1 Entrprise

    Copyright

    © © All Rights Reserved

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    An entrepreneur is someone who takes on the financial risk of starting a new business venture. They must have ideas for new businesses, invest their own savings, and take on risk while being responsible for managing the business. Key characteristics of successful entrepreneurs include innovation, self-confidence, leadership skills, motivation, and the ability to handle multiple tasks. Some challenges entrepreneurs face are identifying successful business opportunities, obtaining sources of capital, dealing with competition, determining a business location, and building a customer base. Common reasons why businesses fail include a lack of record keeping, insufficient cash flow and working capital, poor management skills, and changes in the business environment. Entrepreneurship can positively impact a country's economy through job creation, economic growth,

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    22 views17 pages

    CH 1 Entrprise

    Uploaded by

    Fiona
    An entrepreneur is someone who takes on the financial risk of starting a new business venture. They must have ideas for new businesses, invest their own savings, and take on risk while being responsible for managing the business. Key characteristics of successful entrepreneurs include innovation, self-confidence, leadership skills, motivation, and the ability to handle multiple tasks. Some challenges entrepreneurs face are identifying successful business opportunities, obtaining sources of capital, dealing with competition, determining a business location, and building a customer base. Common reasons why businesses fail include a lack of record keeping, insufficient cash flow and working capital, poor management skills, and changes in the business environment. Entrepreneurship can positively impact a country's economy through job creation, economic growth,

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    of 17

    Who is an

    Entrepreneur?
    Entrepreneur
    • Someone who takes financial risk of starting and managing
    a new venture.

    • He should
    • Have ideas of new business
    • Invest his savings
    • Take risk
    • Responsible for managing the business
    Characteristics
    of an
    Entrepreneur
    Innovation

    Characteristics Self
    confi
    d o tivat
    ed

    of an
    ence m
    Self

    Entrepreneur

    Le d
    ad lle
    ers ski
    hip ulti
    M
    Challenges faced By
    Entrepreneurs
    Challenges faced By Entrepreneurs
    Identifying successful
    business opportunities

    Sources of capital

    Competition

    Determination of location

    Building customer base


    Reasons Why
    Businesses fail
    Reasons Why Businesses fail

    Lack of record keeping

    Lack of cash and working capital

    Poor management skill

    Changes in business environment


    Common Types of
    entrepreneurial
    business
    Common Types of entrepreneurial
    business

    Primary Secondary Tertiary


    •
    Impact Of Employment creation:
    • Economic growth:
    Enterprise On A • Firms’ survival and growth:
    Country’s • Innovation and technological change: N
    Economy • Exports
    • Personal Development
    • Increased social cohesion:
    Social enterprise

    A business with mainly


    social objectives that
    reinvests most of its
    profits into benefiting
    society rather than
    maximising returns to
    owners
    Features of Social
    Enterprise
    • They directly produce goods or provide services.
    • They have social aims and use ethical ways of achieving
    them.
    • They need to make a surplus or profit to survive as they
    cannot rely on donations as charities do
    Social Enterprise – Objectives
    (Triple Bottom Line)

    Economic Social Environmental


    Research a social enterprise business in your
    own country. Try to find out:
    Activity ■ what its social and environmental
    objectives are
    ■ how it is different from a charity
    ■ how it is different from a traditional
    profit only business.
    Returned Next Day, Or Nothing To Pay
    (Pg 14)

    You might also like