Entrepreneurship Performance Indicators (Principles)

Describe the Nature of Entrepreneurship (EN:039) (SP)

Entrepreneurship is the process of identifying, developing, and managing a business venture to generate profit while taking on financial and operational risks. Entrepreneurs innovate by creating new products, services, or business models to address market needs and drive economic growth.

2. Explain the Role Requirements of Entrepreneurs and Owners (EN:040) (SP)

Entrepreneurs and business owners must take on multiple roles, including decision-making, financial management, strategic planning, and leadership. They must also be adaptable, resilient, and willing to take calculated risks to ensure business success and sustainability.

Describe the Use of Business Ethics in Entrepreneurship (EN:044) (SP)

Business ethics in entrepreneurship involves making responsible and morally sound decisions in all aspects of business operations. This includes maintaining honesty, integrity, transparency, and fairness in dealings with customers, employees, and stakeholders to build trust and long-term success.

Describe Small-Business Opportunities in International Trade (EN:041) (SP)

Small businesses can expand globally by exporting goods, forming partnerships, leveraging e-commerce, and utilizing trade agreements. International trade offers opportunities for market expansion, increased revenue, and diversification, but requires understanding cultural, economic, and regulatory differences.