Entrepreneurship Concepts

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Characteristics of an Entrepreneur

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Entrepreneurship involves setting up a business and taking risks for profit.

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Opportunity Taker

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An entrepreneur who identifies and seizes new business opportunities.

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Knowledgeable

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Entrepreneurs conduct market research to gain knowledge.

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Sustainability in Business

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Achieved through effective financial management and strategic planning.

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Sales Impact in Digital Business

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Sales may be lost if customers find the same product at a lower cost online.

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Human Interaction in Business

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Face-to-face interactions are crucial for creativity and collaboration.

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Importance of Face-to-Face Interaction

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Face-to-face interaction is essential for effective communication.

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Business Adaptation

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Businesses may need to adapt their strategies due to negative feedback on social media.

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Customer Influence

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Customers have significant influence over a business's reputation through social media.

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Informing Individuals

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People must be informed about how their personal data is processed.