Business in Australia - Topic 1

Entrepreneurship is....

• The individual who creates a new business

• The individual who bears the risk

• The ability to think outside the box and come up with new ideas

• An innovator and source of new ideas

An Entrepreneur is the ability to think outside the box and come up with new ideas.

• True

• False

Desire for independence, fulfill a market need, success and wealth, be your own boss are all considerd

• Reasons to not start a business

• Reasons why businesses fail

• Reasons why businesses succeed

• Motivations for starting a business

The individual who has the idea and starts the business is called the

The ability to "think outside the box" is called

A private sector business that distributes profits to the community rather than individual shareholders is called

• A business

• An enterprise

• A Social Enterprise

• A shop

A new or improved product of method of doing things is....

• being creative

• is innovating

• is changing things

• is being different

If you can perservere and persist over the long term and have patience and determine you demonstrate the characteristic of...

• goal setting

• resilience

• having a vision

• risk taker

Creativity and inquisitiveness in an Entrepreneur links to the characteristic of....

• resilience

• risk taker

• possessing confidence

• innovative thinker

The ability to spot an opportunity and have a clear goal requires being open minded and has curiosity... if you have this you show the characteristic of.....

• possessing confidence

• having a vision

• resilience

• innovative thinker