Yr 11 - Entrepreneurship

What is an entrepreneur?

• A person who works for a company

• A person who sets up their own business

• A person who invests in stocks

• A person who manages a team

An entrepreneur is a person who:

• Works for someone else

• Starts their own business, hoping to make a profit

• Manages a team in a large company

• Invests in the stock market

What do entrepreneurs often use to start up their business?

• Government grants

• Loans from friends

• Their own money

• Donations

What sacrifices might entrepreneurs make when starting their business?

• Working short hours

• Seeing family members often

• Devoting years to starting up their business

• Taking frequent vacations

What life chances might someone miss due to focusing on starting a business?

• Going to university

• Starting a family

• Buying a house

• Learning a new language

Entrepreneurs often risk their own money and make sacrifices such as:

• Working fewer hours

• Missing time with family and friends

• Avoiding financial risks

• Delegating all responsibilities

Which of the following is NOT a characteristic an entrepreneur might have?

• Creativity

• Risk-taking

• Confidence

• Lateness

Which of the following is a characteristic an entrepreneur might have?

• Determination

• Sloppiness

• Lateness

• Anger

What is:

"??? in business involves making decisions that carry a certain degree of uncertainty and the potential for loss or failure. However, it also provides the opportunity for significant gains or success."

How does creativity help an entrepreneur to be successful?

• It makes them work harder.

• It enables them to think of unique ways of doing things.

• It helps them to follow others' ideas.

• It makes them more competitive.