1.5.2 - Entrepreneurial Motives and Characteristics
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Last updated 5:55 PM on 5/29/24
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5 Terms
1
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What are some characteristics of an entrepreneur?
Opportunity spotter
Creative
Initiative
Hard working
Self-motivated
Enthusiastic
Determined
2
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What are some skills of an entrepreneur?
Communication
Literacy and numeracy
Organisation
Problem solving
Team working
3
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What are some reasons why people set up businesses?
Fulfilling a dream
Being own boss
Work-life balance
Supporting a community
Financial motives
Non-financial motives
4
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What is a financial motive to set up a business?
Profit maximisation
Profit satisficing
5
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What are some non-financial motives to set up a business?
Ethical stance
Social entrepreneurship (motivated by a cause rather than a profit)
Independence
Homeworking
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