Entrepreneurship
The process of starting and managing a business to earn profit.
entrepreneurship
Reviewing sales records and expenses to determine whether business goals are being met
Evaluating Performance
What is Goal oriented
Running a business and achieving the aim or objectives.
A Belizean entrepreneur notices that tourists often struggle to find healthy local meals. She thinks of a business idea for a mobile food truck that sells traditional Belizean dishes made with organic ingredients. She plans the menu, target customers, and pricing before starting the business.
Conceptualizing
Creating employment opportunities for people
Job creation
Who is an entrepreneur?
A person who identifies opportunities and takes risks to start a business.
Bearing the financial uncertainty of a business.
Risk Bearing
The entrepreneur should be able to deal with changing situations and prepared for unexpected at all time
Flexible
Short-term planning usually takes place over what time period?
up to one year
Give an example of Providing Goods and Services to Satisfy citizens
Entrepreneurs strive to develop and produce goods and services that consumers need or want and are willing to pay.
The act of introducing a new product or service into the market.
Innovation
Planning future goals and strategies for business growth
Business Planning
Creativity
What are the 4 factor of production?
Land
Labor
Capital
Enterprise
Two Belizean entrepreneurs—Owner of Luda's fried chicken and Quick delivery service—decide to Join. The restaurant provides the food, while the delivery business handles transportation and online orders.
This is an example of
Collaborating
State two characteristics an entrepreneur should have to succeed
Take Risk
Persistence
Goal Oriented
Running the day-to-day activities of the business, such as production and sales
Operating the business
The ability to invent and develop new ideas and design for new products
Innovative
What is Financial Capital?
The business will have cost such as: Buying machinery or a vehicle, computers, business premises and Internet connection etc.
Collaborating and trading with other local, regional and national organization
Contributing to the Nation Building
Self- fulfilment in entrepreneurship means?
personal satisfaction from achieving goals
Obtaining funds from savings, loans, or other sources to start and run the business
Accessing Finance
What is perseverance?
Staying committed to goals despite obstacles
Short-term planning usually takes place over what time period?
up to 10 years
Raising living standards by producing goods and services
Economic development