Enterprise

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Enterprise
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Characteristics

• Is an attribute or a trait that is part of you
  personality.
• It is innate as you are born with it.
• Examples include confidence, independence, etc

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(No Transcript)
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Skills

• Is something that you learn over time with plenty
  of practice.
• Examples include reading, writing, listening,
  communicating, etc.

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Enterprise CharacteristicsMICRA

• Motivated
• Independent
• Innovative/creative
• Confident
• Risk Taker
• Ambitious
• Analytical

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Enterprise SkillsHIDRIP

• Human Relations
• Inner Control
• Decision Making
• Risk Taking
• Innovation
• Planning (Goal Setting)
• Problem Solving

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Time Management

• Is a skill that is used to make the best use of
  your time.
• You set goals
• You break the goals into tasks
• You prioritise
• You delegate (share out the work)
• Good time management reduces stress.

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Risk Management

• Is a planned approach to managing possible chance
  happenings.
• All risks are identified eg. fire, theft, etc.
• The chance of the risk occurring is calculated,
  e.g. 1 low risk, 50 high risk
• Calculate the cost if the loss were to occurr.
• Calculate the cost of insuring the risk

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Types of Risk Takers

• Risk avoiders - Will not take a chance at all
• Risk neutral - Will only take a risk if the
  reward and the chance of success is high
• Risk acceptors - Will take a chance even if the
  chance of success is small.

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Types of Problem Solving

• Proactive
• Taking the initiative.
• Making the first move to solve a problem.
• Reactive
• Waiting for others to make the first move.

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Networking

• This means making links of contacts with other
  stakeholders.
• This helps improve business opportunities.
• Examples include meeting people at golf clubs,
  Lions club, etc.

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Feedback

• Is the skill of using information gained from
  data, research or people.
• To judge the progress of a product or service.
• Example Listening to customer suggestions or
  complaints.

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Recall and Review

• What is Enterprise?
• List and explain five enterprise characteristics
• List and explain five enterprise skills
• Prioritise the skills/characteristics required to
  be an entrepreneur