They are the main risk takers in business. The entrepreneur takes both a personal and a financial risk in setting up their business. The entrepreneur is highly innovative and creative.
Factors of Production
Land, Labour, Capital and Enterprise
Enterprise is the most important F.O.P. as it’s the entrepreneur who combines the other three factors. They provide the intelligence behind the production process. Without the entrepreneur there would be no production.
An intrapreneur is someone who is enterprising within their job. They may come up with ideas for new products or new ways of dealing with inquiries and filing. E.g. It wan an employee in a bank who came up with the idea of an ATM.
Characteristics and Skills of an Entrepreneur
1: Risk Takers
2:Innovative as they have the ability to spot a gap in the market
7: Decision making
Enterprise in Action
- Have your own blog or website
- Do your own DIY- art
- Do your own budgeting
- Taking part in a school performance (musicals, talent shows ect.)
- T.Y. Christmas Market
- Meals on wheels
- Community alert groups
- Ballyshannon Regeneration