objectives

Students should be able to: Identify the characteristics of the typical

entrepreneur. Outline why people want to set up their

own businesses and essential steps in doing so.

an entrepreneurs

Who an entrepreneur?

An Entrepreneur is a person who undertakes a risk by investing money, time and energy in the building of a business with the aim of making a profit.

   The roles of the Entrepreneur

Generate new ideas and create products

Keeps their ears to the ground in the marketplace

Plan and manage the use of the resources of a business enterprise to provide goods and services for the consumer or targeted customers

Role continues be innovative in coming up with the

best product or service for the market

Be a visionary; that is to be able to project beyond the present, and provide and follow through a vision of what the business could be in the future

Acquire the necessary tools such as machinery and equipment, where necessary, to enhance the business operations

Advantage and disadvantage of and entrepreneur

ADVANTAGES DISADVANTAGES

Experience personal satisfaction Time consuming and physically stressful

Experience greater independence in making decision

There is no guarantee that there will be sustained demand for the product or service being offered.

Be able to call upon family and friend when project deadline is in danger

The entrepreneur may be unable to respond to increased demand for good and services

Be able to focus on customer satisfaction by providing high quality personal service

Both management experience and management quality mighty be lacking

Characteristics of an entrepreneur

Visionaries Risk takers Hardworking Passionate about their business

ideas and plan Not afraid of failure Innovative/creative Highly motivated that will help

other around them Focus on their vision

How do entrepreneur in your community help the community?

Easy access to good and service

Provide jobs Contribute to clubs and

schools Be a role model Provides training to workers

Photo of young entrepreneur

quiz

Click on the correct answer.

question 1

What is the best definition for the entrepreneur?

A. A bank manager

B. An individual who bears risk to make a profit

C.  A risk taker

D.  A sales person in a supermarket

question 2

Entrepreneurs include which of the categories of persons?

A. Vendors and sole proprietors

B. Television announcers

C. Pensioners

D. Chefs

question 3

All of the following are important characteristics of the entrepreneur except?

A. Loving

B. Inventor

C. Creative

D. Good managerial skills

question 4

4. Which is NOT a benefit of being an entrepreneur?

A. being your own boss

B. setbacks for which you are solely responsible

C. being able to do work you’re interested in

D. earning a large profit

question 5

5.Which of the following is a common entrepreneurial trait?

 

A. Viewing changes as threatening

B. A need for structured environments

C. A high need for achievement

D. All of the above

correct

Q1 Q2 Q3 Q4 Q5

In correct

Q1 Q2 Q3 Q4 Q5

GOOD TRY

reference

Robinson. K.& Hamil. S.(2011).Principle of Business for CSEC.