{"id":110,"date":"2022-06-02T10:23:11","date_gmt":"2022-06-02T09:23:11","guid":{"rendered":"https:\/\/blogs.glowscotland.org.uk\/glowblogs\/n5businessmanagement\/?page_id=110"},"modified":"2024-05-30T11:18:09","modified_gmt":"2024-05-30T10:18:09","slug":"entrepreneur","status":"publish","type":"page","link":"https:\/\/blogs.glowscotland.org.uk\/glowblogs\/n5businessmanagement\/entrepreneur\/","title":{"rendered":"Entrepreneur"},"content":{"rendered":"

Role of the Entrepreneur<\/strong><\/span><\/h2>\n
    \n
  • Enterprise occurs when an entrepreneur has an idea<\/strong> for product and turns this into reality. Their idea might be an improvement on an existing product, or a new product idea.<\/li>\n<\/ul>\n

    \"\"<\/strong><\/p>\n

      \n
    • Entrepreneurs conduct market research<\/strong> to see if their idea is likely to be successful.<\/li>\n
    • Entrepreneurs make decisions<\/strong> on what to produce, who to produce it for, how much to charge etc.<\/li>\n
    • Entrepreneurs organise <\/strong>factors of production to be in place so that the product can be manufactured.<\/li>\n
    • Entrepreneurs take risks<\/strong> eg their idea might fail and they may lose their investment.<\/li>\n<\/ul>\n

      Skills and Qualities of a Successful Entrepreneur<\/strong><\/span><\/h2>\n\n\n\n\n\n\n\n\n
      \"\"<\/td>\nEntrepreneurs must have a willingness to take risks which may require personal qualities such as confidence.<\/td>\n<\/tr>\n
      \"\"<\/a><\/td>\nEntrepreneurs need good communication skills to enable them to communicate effectively with their employees, suppliers and customers.<\/td>\n<\/tr>\n
      \"\"<\/a><\/td>\nEntrepreneurs must have determination<\/strong> and enthusiasm<\/strong> to rise to a challenge and to stick with an idea and be able to overcome any obstacles to achieving their aims.<\/td>\n<\/tr>\n
      \"\"<\/a><\/td>\nEntrepreneurs need good decision-making skills<\/strong> eg to decide which good or service to produce, which method of raising finance to use, what price to charge customers and which employees to hire.<\/td>\n<\/tr>\n
      \"\"<\/a><\/td>\nEntrepreneurs may need numeracy skills<\/strong> so that they can use financial information to make business decisions.<\/td>\n<\/tr>\n
      \"\"<\/a><\/td>\nEntrepreneurs need leadership skills<\/strong> to lead and motivate their employees to achieve the objectives of the organisation.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

       <\/p>\n","protected":false},"excerpt":{"rendered":"

      Role of the Entrepreneur Enterprise occurs when an entrepreneur has an idea for product and turns this into reality. Their idea might be an improvement on an existing product, or a new product idea. Entrepreneurs conduct market research to see if their idea is likely to be successful. Entrepreneurs make decisions on what to produce, […]<\/p>\n","protected":false},"author":79984,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-110","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/blogs.glowscotland.org.uk\/glowblogs\/n5businessmanagement\/wp-json\/wp\/v2\/pages\/110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.glowscotland.org.uk\/glowblogs\/n5businessmanagement\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/blogs.glowscotland.org.uk\/glowblogs\/n5businessmanagement\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.glowscotland.org.uk\/glowblogs\/n5businessmanagement\/wp-json\/wp\/v2\/users\/79984"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.glowscotland.org.uk\/glowblogs\/n5businessmanagement\/wp-json\/wp\/v2\/comments?post=110"}],"version-history":[{"count":7,"href":"https:\/\/blogs.glowscotland.org.uk\/glowblogs\/n5businessmanagement\/wp-json\/wp\/v2\/pages\/110\/revisions"}],"predecessor-version":[{"id":532,"href":"https:\/\/blogs.glowscotland.org.uk\/glowblogs\/n5businessmanagement\/wp-json\/wp\/v2\/pages\/110\/revisions\/532"}],"wp:attachment":[{"href":"https:\/\/blogs.glowscotland.org.uk\/glowblogs\/n5businessmanagement\/wp-json\/wp\/v2\/media?parent=110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}