1. GCSE Business Studies Unit 1 Starting a Business
Entrepreneurs

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Learning Outcomes
Describe what it means to be enterprising
Identify and explain the key entrepreneurial characteristics displayed by successful business people (risk taking, innovation, decision making, determination, leadership, planning and persuasiveness)
Analyse why the government encourages enterprise
Analyse the nature and rewards of risk taking
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3. What does it mean to be Enterprising?
A person who is enterprising is someone who is creative and shows initiative. They are willing to take on new challenges and are energetic in carrying out tasks.
Each year Northern Ireland celebrates the achievements of Entrepreneurs:-
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4. What is an Entrepreneur?
An entrepreneur is someone who is willing to take risks to achieve business success. An Entrepreneur will have the following key characteristics:
Risk Taking
Innovation
Decision making
Determination
Leadership
Planning
Persuasiveness
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5. The Government and Enterprise
The Government is keen to encourage enterprise, for the following reasons:
Creates employment
Stimulates economic development
Businesses which compete internationally bring money into the Northern Ireland economy
People who set up their own business are usually highly motivated
Explore these two websites to find out more information:-
and
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Risk taking
All entrepreneurs take significant risks when starting up and running a business.
Discuss the risks and rewards an entrepreneur may encounter.
Copy and complete the table below: (20 minutes)
Risks
Rewards
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7. Exam Question and Check List
Past paper 2016 Unit 1 – Q2(f) – spend 5-7 minutes completing this question.
Learning Check – Do you know . . .
1. What it means to be enterprising?
The key entrepreneurial characteristics displayed by successful business people?
Why the government encourages enterprise?
4. The nature and rewards of risk taking?
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