Illustrate what it means to be an entrepreneur with reference to Atlantic Surf - Leaving Cert Business - Question A - 2014
Question A
Illustrate what it means to be an entrepreneur with reference to Atlantic Surf.
Shay Doherty, a native of Summerstown, is the owner of Atlantic Surf, a surfing scho... show full transcript
Worked Solution & Example Answer:Illustrate what it means to be an entrepreneur with reference to Atlantic Surf - Leaving Cert Business - Question A - 2014
Step 1
Innovative/Creative
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Answer
Entrepreneurs are constantly searching for new ideas and ways to improve what they do. In the case of Shay, he exhibited innovation by deciding to combine his passion for surfing with a business opportunity at Atlantic Surf. He demonstrated creativity by adapting to the local market needs while striving to enhance the surfing experience.
Step 2
Risk Taker
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Answer
Taking risks is inherent to entrepreneurship. Shay took a personal and financial risk by deciding to leave his life in Australia and return to Ireland to start Atlantic Surf. This decision reflects his willingness to pursue a venture that involved uncertainty.
Step 3
Initiative/Exploiting opportunity
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Answer
Shay displayed initiative by utilizing his surfing skills and recognizing Ireland’s emerging reputation for quality waves. He capitalized on the growing interest in surfing among the local population and tourists, allowing him to exploit this opportunity effectively.
Step 4
Resilient/Confident
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Answer
Shay showed resilience by overcoming previous failures in business and not shying away from future challenges. His self-belief and confidence in his ability to run Atlantic Surf are crucial for sustaining the venture.
Step 5
Future focused
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Being future-focused means planning ahead and preparing for success. Shay prepared a comprehensive business plan, which is essential for attracting investment and managing growth. This reflects his ambition for Atlantic Surf to thrive in the competitive market.
Step 6
Networking/ Persuasive abilities
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Answer
Effective entrepreneurs understand the value of networking. Shay reached out for guidance by contacting the ISA and seeking essential advice on legislation and marketing. Building a support network will be vital for the long-term success of Atlantic Surf.
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