Outlining the characteristics/skills that you would associate with entrepreneurs - Leaving Cert Business - Question A - 2015
Question A
Outlining the characteristics/skills that you would associate with entrepreneurs.
Stripe, the fast-growing online payments business, was established by Limerick bro... show full transcript
Worked Solution & Example Answer:Outlining the characteristics/skills that you would associate with entrepreneurs - Leaving Cert Business - Question A - 2015
Step 1
Risk Taking
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Answer
Entrepreneurs are willing to take personal and financial risks when starting a new business. They understand that there is no guarantee of success, but they accept the challenges that come with it in hopes of making a profit.
Step 2
Decision Making
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Answer
An entrepreneur must possess strong decision-making skills. They should be capable of making choices that benefit their business, often under pressure. This includes analyzing the potential consequences of their decisions.
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Answer
Entrepreneurs are often highly creative individuals. They continuously seek to develop new ideas and explore innovative ways of doing things. This involves thinking outside the box and striving to create new products or services.
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Answer
A successful entrepreneur remains attentive to future trends and market demands. They actively seek out opportunities and listen to customer feedback to identify potential avenues for growth.
Step 5
Resilient/Confident/Determined/Self-Belief
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Answer
Entrepreneurs exhibit resilience and confidence in their abilities. They are not easily discouraged by failure and view setbacks as learning opportunities, driven by a strong belief in their business ideas.
Step 6
Other
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Answer
Entrepreneurs often possess strong networking and persuasive skills. They also display flexibility and initiative, maintaining a realistic perception of their business situation.
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