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14360854
Entrepreneurial motives and characteristics (1.5.2)
Description
A level Business, Unit 1 Mind Map on Entrepreneurial motives and characteristics (1.5.2), created by Rhian Morgan on 10/07/2018.
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business studies
edexcel
business, unit 1
a level
Mind Map by
Rhian Morgan
, updated more than 1 year ago
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Created by
Rhian Morgan
about 6 years ago
18
1
0
Resource summary
Entrepreneurial motives and characteristics (1.5.2)
Characteristics of entrepreneurs
Self-confidence
Self-determination
Being a self starter
Judgement
Commitment
Perseverance
Initiative
Skills required by entrepreneurs
Organising
Financial management
Communication
Managing people
Decision making
Negotiating
IT skills
Reasons why people set up their own business
Financial
Profit maximisation
Profit satisficing
Fiancial
Non-financial
Ethical stance
Social enterprise
Independence
Home working
DEFINITIONS
Profit maximisation= An attempt to make as much profit as possible in a given time period
Profit satisfaction= Making enough profit to satisfy the needs of the business owner(s)
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