Enterprise AS Business Studies

Aims and Objectives Aim: Understand what enterprise is, and the traits of entrepreneurs. Objectives: Define enterprise and entrepreneurship. Examine characteristics of entrepreneurs. Analyse and evaluate reasons as to why people become entrepreneurs.

Starter In groups decide on: Definitions of entrepreneur and enterprise. 2) Decide upon which skills and qualities you feel are necessary to be a successful entrepreneur.

Enterprise Enterprise: The ability to come up with new ideas, new ways of doing things and to handle uncertainty whilst effectively managing change.

Entrepreneurship Someone who has some of the following characteristics: Risk Taker Sets their own business up Can manage the four factors of production: Land Labour (employees) Capital (any kind of equipment used in production) Enterprise (risk)

Innocent What skills and qualities did these entrepreneurs have? What motivated them to become entrepreneurs?

Motives for Becoming an Entrepreneur In groups brainstorm reasons as to why people set up their own businesses and become entrepreneurs. Reasons A B C

Motives for Becoming an Entrepreneur Reasons Job Change Interest/ Hobby Gap in the market Market a Product Make a Product Be own boss To become a big business

Entrepreneur Examples Think of 5 examples of entrepreneurs and be able to explain how they have been enterprising.

Plenary Give 2 characteristics of an entrepreneur. What does it mean to be enterprising? Explain 3 reasons people start their own businesses.