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Illustrate the difference between ‘enterprise’ and ‘management’. - Leaving Cert Business - Question 7 - 2009
Question 7
Illustrate the difference between ‘enterprise’ and ‘management’.
Worked Solution & Example Answer:Illustrate the difference between ‘enterprise’ and ‘management’. - Leaving Cert Business - Question 7 - 2009
Step 1
Enterprise
Answer
To be enterprising means to possess the ability to generate new ideas and identify opportunities. This involves having the confidence, motivation, and determination to take risks in order to transform those ideas into reality. Individuals who embody enterprise act as agents of change, pro-actively seeking to make a difference and innovate within their fields.
Example: Bill Cullen, Chairman and owner of Renault Ireland, exemplifies enterprise through his ability to recognize market opportunities and implement innovative solutions.
Step 2
Management
Answer
Management refers to the process of achieving organizational objectives through efficient and effective means, particularly by working with and through other people. The primary functions of management include planning, organizing, and controlling resources to meet the goals of the organization. This process ensures that operations run smoothly and that resources are allocated effectively to maximize productivity.
Example: Declan Kidney, Irish Rugby Coach, demonstrates management by coordinating team activities, strategizing game plans, and ensuring that each player's role contributes to the team's success.