Characteristics and Skills of an Entrepreneur (Edexcel A-Level Business): Flashcards
📚Flashcards
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10 cards from this deck
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Practise the cards
10 cards from this deck
Entrepreneur definition
Entrepreneur definition
Person who starts & runs own business, taking financial risks
Self-confidence in entrepreneurs
Self-confidence in entrepreneurs
Genuine belief they will succeed & conviction in business idea
Self-determination characteristic
Self-determination characteristic
Belief they can control & influence events around them
Self-starter trait
Self-starter trait
Works independently without needing direction from others
Perseverance in entrepreneurs
Perseverance in entrepreneurs
Ability to push through difficult periods & overcome obstacles
Initiative characteristic
Initiative characteristic
Acting proactively & adapting to changing circumstances
Most critical entrepreneurial skill
Most critical entrepreneurial skill
Financial management - ensuring sufficient money is available
Characteristics vs skills difference
Characteristics vs skills difference
Characteristics inherent; skills can be learned via training
Profit maximization
Profit maximization
Aiming to make as much profit as possible
Profit satisficing
Profit satisficing
Seeking sufficient profit to meet needs, not maximum returns