Business Unit 0.0 / 5 ? Business StudiesSection 1A2/A-levelAQA Created by: issiepickupCreated on: 27-04-16 10:50 define entrepreneur A entrepreneur is a risk taker who sets up a business with an aim to make profits 1 of 19 what are the6 characteristics of an entrepreneur Resilent, Creative, Self Confident, Takes Calculated Risks, Iniative, Hard Working 2 of 19 Resilent the ability of a business to withstand or recover from diffiuclt situations 3 of 19 Iniative acting without waiting to be told what to do or for someone else to start the action for you 4 of 19 Calculated Risk The risk for which an entreprenuer has estimated the success or failure 5 of 19 Creative Having original ideas 6 of 19 Self confidence Believing in your own ideas/abilities 7 of 19 Hard working willing to work long hours to make your ideas happen 8 of 19 why set up a business? profit, working independently, working from home, ethical stance, social entreprenuership 9 of 19 define autocratic leadership Take top down decisions without consulting employees - provide little infromation for reasons for the decision 10 of 19 Characterstic A personal quality which an entrepreneur possesses 11 of 19 Motive The factors which encorage an entrepreneur to set up their business and take particular decisions 12 of 19 Democratic guide rather than dictate. Consulting widely and encouraging everyone to participate in the decision making process 13 of 19 Paternalistic They consult at every level and explain their reasons but they take the final decision 14 of 19 advantages of autocratic - quick decision making process - ideal when tight control is needed 15 of 19 disadvantages of autocratic - little opportunity for workers to use iniative - workers have little respect for the leader 16 of 19 + of paternalistic Two way communication = motivating - workers feel their social needs are being met 17 of 19 - of paternalistic dictotorial or autocratic style of leadership still 18 of 19 + of democratic little opportunity for workers to use iniative/ share ideas 19 of 19
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