"Role of an entrepreneur" (Theme 1: A level Business Edexcel)
7 views 0 purchase
Course
Unit 1 - Marketing and people
Institution
PEARSON (PEARSON)
In this lecture notes you will find in depth notes for the topic "Role of an entrepreneur" Theme 1 of Edexcel A level business which is called marketing and people.The textbook "Edexcel AS/A level BUSINESS, 5th edition, Pearson" is referenced in these lecture notes. They are really well written a...
LESSON 18
.Role of an entrepreneur
.Creating and setting up a business
An entrepreneur is a person who sets up and runs a business and takes risks in the hope of
a profit or reward.
Entrepreneurs⇒are innovators because they try to make money out of a
business idea
⇒are responsible for organising other factors of production
⇒have to make all the key decisions
⇒are risk takers
.Running and expanding/developing a business
Running a business requires owners to undertake a range of other tasks that are crucial to
the success of the business:
- Financial management
- Administration
- Marketing
- Purchasing
- Managing people (spending time on recruitment, selection and training. Need to
develop skills in managing people and motivating staff)
- Production (need to monitor product quality and consistency, consider health and
safety issues)
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller annacarcelli. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $6.49. You're not tied to anything after your purchase.
