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Entrepreneurs Revision Activity

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  • Health problems and wellbeing are ______________ of being an entrepreneur
    Risks
  • Define entrepreneur
    Someone who takes the personal and financial risk to set up their own business in the hope of making a profit.
  • A successful entrepreneur will always be aware of their
    Strengths & Limitations (Weaknesses)
  • An entrepreneur taking a personal an personal and financial risk in setting up a new business is known as?
    Risk - Taking
  • The act of turning opportunities and ideas into value for an organization, the economy and society
    Entrepreneurship
  • Henry Ford is known for?
    Inventing the Model T in 1908. The first affordable mass produced car, which made car travel available to many.
  • Someone that haves or shows a strong desire and determination to succeed.
    Ambitious
  • List two skills of an entrepreneur
    Planning Time Management Communication Interpersonal/People Skills, Market Knowledge, Problem Solving, Multitasking ,Delegation
  • List two risks of becoming a entrepreneur
    Financial risk/lose of money, Pressure on health and wellbeing. Confidence & reputation.Competition
  • List two reasons why people become entrepreneurs (benefits)
    Own boss/Independence. Variety of work. Increased income/wealth. Control. Personal satisfaction. Enterprising culture. Unemployed
  • What are the three types of enterprise
    Social, Financial and Cultural
  • How may the idea for a new business begin?
    A completely new product of idea. Identifying a product or service that is currently not being offered in the area/ offered at a lower price
  • List two characteristics of an entrepreneur
    Creative/Innovative, Confidence, Risk – Taker, Hard-working ,Ambitious, Initiative, Responsible, Resourceful, Determined
  • Improved standard of living and improved services are
    Benefits of entrepreneurial activities/actions to society
  • Entrepreneur is central to the success of their business by (list one example)
    Driving force, high energy, passion, motivation of employees, introduction of new ideas keeps business competitive.
  • _________________how goods and services are produced, sold and bought in a country or region
    Economy
  • What is the biggest challenge to Entrepreneurs at the moment?
    Uncertainty/Covid-19 threat to their business.
  • An entrepreneur who does not wait for others to do things. Is know as being
    Proactive or Showing Initiative
  • Who is this?
    Collision brothers, Patrick and John. Irish entrepreneurs and founders of Stripe and currently worth €9.6 billion each
  • Founder of microsoft
    Bill Gates
  • Managing your time effectively is what skill?
    Time Management
  • The ability to deal with people and get the best from them
    Communication or Interpersonal Skills
  • Ryanair's Chief Executive Officer
    Michael O'Leary
  • List two reasons why do people become entrepreneurs
    Own boss, variety of work, increased profits, personal satisfaction, enterprising culture and unemployment
  • An enterprising person who displays entrepreneur-like qualities while workings as employee within an organization
    Intrapreneur
  • Helen Nolan founder of Spraoi agus Spórt is a
    Social Entrepreneur
  • Founder of Amazon
    Jeff Bezos
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