Enterprise

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•Entrepreneur: The are the main risk takers in business. The entrepreneur takes both a personal and financial risk in setting up their business. The entrepreneur is highly innovated and creative. eg. Bill Gates [Microsoft] and Geoff Read [Ballygowan].

•Factors of production: Land, Labour, Capital and Enterprise. Enterprise is the most important FOB as its the entrepreneur who contains the other three factors. The provide the intelligence behind the production process. Without the entrepreneur there would be no production.

•Intrapreneur: An intrapreneur is someone who is enterprising within their job. They may come up with ideas for new products or new ways of dealing with enquirers. eg. It was an employee in a bank who came up with the idea of the ATM.

•Characteristics and skills of enterprise:

  1. Risk Takers.
  2. Innovated: Sports gap in the market.
  3. Creative.
  4. Determined.
  5. Realistic.
  6. Human Relations.
  7. Decision Making.

 

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