Entrepreneur skills and Characteristics

Distinguish between a Develop

skill and a characteristic enterprise skills

Learning
Intentions:
Identify and Identify different
describe an types of
entrepreneurs entrepreneurs
characteristics and give
examples
 Can we identify the difference
between a skill and
characteristic?
Examples of Entrepreneurs:
 James Dyson

 Michael O'Leary

 Pat McDonagh

 Suzanne Jackson
Characteristics:
 These are special qualities and
abilities that we are born with.

 Organisations/ schools have

characteristics that distinguish
them from others, such as a
business might promote themselves
as good value for money e.g. Mr
Price

 Characteristics can improve over

time.
Skills:

 These are abilities that

people develop from
education, training and
experience e.g.
playing a sport,
dancing, IT, talking
and listening ……
Enterprise:
 Refers to any attempt to start or do
something new
 It is the ability to build ideas creatively
 Risk is involved

Entrepreneur:
 Is a person or organisation that identifies a
need/challenge/opportunity that is not
being satisfied and tries to do something
about it.
Entrepreneurial
Characteristics
 1. Creative/Innovative – entrepreneurs are
people who find new and better ways of
doing something and see their idea
through to the end.
See challenges instead of problems.
 2. Risk Takers – understand the level
of risk is worth taking and you know
the consequences

 3.Confident – they have a belief in

their own abilities.
“yes I can” attitude

 4. Resilient (Determined) – can deal

with set backs, bounce back and start
again.
 5. Hardworking – hands on
approach, necessary to finish a
project

 6. Decisive – Make quick

decisions and commit to them.
 7. Realistic – having or showing a
sensible and practical idea of what
can be achieved or expected

 8. Proactive – creating or
controlling a situation in a positive
way rather than just responding to
it after it has happened
Entrepreneurial Skills:

 1. Goal Setting – involves planning and target

setting

 2.People Management – need

communication skills to get the best out of
people

 3. Delegation – priorities work and allow

others to take some of the responsibilities
 4.Inner Control – take charge of
their own destiny and believes in
their ideas.

 5. Self-Management – Prioritise
time effectively, manage stress.

 6. Reality Perception – see

things clearly as they are.
True or false

1. Entrepreneurs impact our world

2. Entrepreneurs are risk-takers

3. A degree is really important for an

entrepreneur

4. A skill is something you are born with

5. Characteristic's are more important than

skills
What do all these
people have in
common??

 Oprah, Steve Jobs, Elon

Musk were all fired from
their first jobs
 Vera Wang failed to
achieve her goal of
making the Olympic
figure skating team and
also failed to get the job
as the editor in chief for
vogue
Elon Musk

 Net worth = $209 bn

 Richest man in the
world 2021
 Entrepreneur and
industrial designer
 Tesla, SpaceX, etc.
Local
Entrepreneurs
 Darren O’Connell
= Chill The Beans

 Aaron Gillane
= AG Sports
Homework Question

 Pick any Entrepreneur

(Local/National/Global) and research
10 facts about their Enterprise
 Being
Enterprising:
 Involves bringing together the
factors needed to produce good
and service.

 What are the factors ?

 Think of Economics
(Ye covered them for the JC)
Being Enterprising:
 Involves bringing together the factors needed to produce good and
service.
 Factors are Land, Labour, Capital and Enterprise.

 Land + Capital +Labour + Enterprise = Success or Failure

Effects of
Enterprise
 For Profit Organisations
Effects of
Enterprise
 For Profit Organisations

1. Provides jobs
2. New ways of producing goods and
services
3. More government initiatives for
developing enterprise e.g. grants
4. Increased lending from the banks
(money to set up or expand a
current business)
Effects of
Enterprise
 On non profit organisations:
Effects of
Enterprise
 On non profit
organisations:

1. It takes enterprising
individuals to organise a
community meeting or
fundraising etc.
2. They provide information
on public services and
entitlements in Ireland.
3. Social Service Enterprises –
e.g. meals on wheels,
transport to hospital
appointments,
bumbleance.
Importance of Enterprise to the Economy:

1. Generates new business and jobs

2. Raises the standard of living – people have more money
to spend
3. Provides income for the government – which allows
improvement in public services
4. Replaces imported goods with Irish goods.
Enterprise in Action:
 Personal Life:  Business:
1. Learn an Instrument 1. Set up a new business
2. Grow your own veg 2. Expand or diversify your
business
 School Life:
1. Homework Club  Government
2. Schools team 1. Coming up with new ways
3. End of year school play to raise money e.g. lotto
2. Improvements in
 Community:
transports e.g. Luas
1. Join youth club
2. TidyTowns
Being
Enterprising
 What are the
ingredients needed
to be Enterprising?

Any ideas???
Jay Nisha