Enterprise Skills

Skill Is something that you learn over time with plenty of practice. Examples include: reading, writing, listening, communicating…..

Enterprise Is the human ability to be innovative and proactive in life. When you are willing to do something new and challenging with the possible risk of failure. An enterprising person is dynamic, hardworking and motivated.

You can be enterprising in: Home: DIY home improvements Leisure: do a sponsored walk School: Greenschools, mini-company, fundraising Community: Tidy Towns Government: Create jobs, reduce waste Work: Intrapreneurship, good customer care Business: new ideas, problem solving

Enterprise Skills Motivated Independent Innovative/creative Confident Risk Taker Decisive Realistic

1. Motivated Will push themselves to achieve their goals. They are determined to do well. They thrive on the challenge to succeed. Example: When Mary was made redundant she decided to start her own business.

2. Independent Entrepreneurs like to be in charge/control of the situation. They like working for themselves. They don’t like being told what to do. They can rely on themselves and don’t need other people to motivate them.

3. Innovative/creative Entrepreneurs are good at thinking of new ideas. They are creative and constantly looking for ways to improve their business. They can spot an opportunity (gap) in the market and fill the niche.

3. Innovative/creative They think outside the box. They have a vision for the future. Example: Anita Roddick set up the Body Shop as she felt there was a need for cosmetics not tested on animals. She also pioneered Fair Trade.

4. Confident They have a strong sense of self-belief and conviction about their own business idea. They have a high self-image. They are positive in their approach to business looking for solutions rather than problems. This all helps them to convince investors.

5. Risk Taker They are not afraid to take a personal and financial chance in their business. They are not afraid of failure. They take “calculated risks”. High risks = high return Low risk = low return e.g. Richard Branson competing against Coke with Virgin Cola.

6. Decisive They have the ability to make quick & clear decisions so as not to miss a business opportunity. They don’t keep changing their mind. They take full responsibility for the actions and decisions they make. e.g. Eddie Rocket deciding to expand through franchising.

6. Decisive Entrepreneurs learn how to make good choices rationally & quickly as follows; 1. Analyse the problem or opportunity. 2. List all possible solutions. 3. Go through advantages & disadvantages of each. 4. Pick the solution with the most advantages.

7. Realistic Entrepreneurs see situations as they really are and not as they might like them to be. They realise when things are going wrong and do not fool themselves into thinking otherwise.

Recap and Review What is a skill? In what ways and in what situations can a person be enterprising? List and explain the skills of an enterprising person