Entrepreneurship Revision

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Entrepreneur

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A person who organises and manages an enterprise, especially a business, usually with considerable initiative and risk.

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Why is it important for an entrepreneur to have problem solving skills?

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They can find solutions and turn such problems into opportunities. Problem solving relates to all aspects of business.

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Social Entrepreneur

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Involves individuals with innovative solutions to society’s most pressing social problems

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Commercial Entrepreneur

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They run their own business.

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Corporate/Intrapreneur

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These types are seen to do innovative/creative things within the workplace.

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Angel investors give more favourable terms than other lenders, as they are usually investing in the person rather than the viability of the business. They are focused on helping the business succeed, rather than reaping a huge profit from their investment. True or False?

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True

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A venture capitalist is an investor who provides capital to start-up ventures or supports small companies that wish to expand but do not have access to public funding. Venture capitalists are willing to invest in such companies because they can earn a massive return on their investments if these companies are a success. True or False?

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True

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Crowdfunding is the practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet.

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True

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Which of the following are NOT business skills needed for an entrepreneur? Record keeping, Leadership, Creativity, Risk management

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Creativity

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Autocratic Leader

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Prioritise tasks and outcomes over the needs of staff and like to control all of the important decisions.