Discuss the entrepreneurial skills and characteristics you would associate with entrepreneurs like Maria and David - Leaving Cert Business - Question 5(A) - 2021
Question 5(A)
Discuss the entrepreneurial skills and characteristics you would associate with entrepreneurs like Maria and David.
Ballymakenny Farm Heritage & Speciality Potatoes... show full transcript
Worked Solution & Example Answer:Discuss the entrepreneurial skills and characteristics you would associate with entrepreneurs like Maria and David - Leaving Cert Business - Question 5(A) - 2021
Step 1
Risk taking
96%
114 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
Entrepreneurs often take personal and financial risks in order to pursue their ideas. Maria and David have invested their time and money into their farm and the production of Purple Violetta Potatoes. This requires them to assess risks carefully—deciding when to expand their operations or when to seek financing.
Step 2
Innovative/Creative
99%
104 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
Successful entrepreneurs exhibit creativity by seeking new ways to improve their offerings. Maria demonstrated innovation by developing unique marketing strategies, such as selling directly to consumers and carving out a niche within the potato market.
Step 3
Decisive/Decision Making
96%
101 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
Entrepreneurs must be skilled decision-makers, often needing to consult with stakeholders. Maria and David learned to weigh the pros and cons of different business strategies, ensuring they make effective choices that promote growth.
Step 4
Resilient
98%
120 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
Resilience is key in entrepreneurship. Maria and David needed to adapt and recover from setbacks, demonstrating their determination to overcome challenges in growing their business.
Step 5
Confident
97%
117 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
Confidence is vital for entrepreneurs to showcase their ideas. Maria and David's belief in their unique potatoes instilled the confidence required to pursue their venture despite uncertainties.
Step 6
Flexible
97%
121 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
Flexibility allows entrepreneurs to adapt to changing situations. Maria and David had to adjust their production methods in response to market trends and consumer preferences, showcasing their ability to pivot in business.
Step 7
Future focused
96%
114 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
Successful entrepreneurs are often forward-thinking. Maria and David identified potential future market opportunities by focusing on unique offerings like Purple Violetta Potatoes, aiming to stay ahead of competitors.
Step 8
Proactive/Have Initiative
99%
104 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
Entrepreneurs typically take the initiative to explore new opportunities. Maria and David showcased this by actively seeking to develop their unique potato business, which required setting clear goals and efforts to achieve them.
Join the Leaving Cert students using SimpleStudy...