This set of notes cover the IEB/DBE topic of Entrepreneurship, Leadership, and Management. They include pictures and are in-depth notes. These will be a sufficient source to study this section and prepare for your final Business Studies Exam.
Note: These notes are recommended for IEB students - a...
Entrepreneurship,
Leadership and
Management
IEB Business Studies
Nicola Waite Nikkiwaite2@gmail.com
, Nicola Waite Business Studies May 2021
Entrepreneurship, Leadership, and
Management
Entrepreneurs’ vs intrapreneurs
What is an entrepreneur?
• Combine the 3 Factors of production (raw
materials, capital and labour)
• See a gap in the market and take the risk
of starting a business
• Invest capital in attempt to make profit
• Normally top management role
What is an intrapreneur?
• Employees that use their unique talents of innovation and leadership to
change and improve their department and take the business to new
heights
• Same qualities as entrepreneurs but are more cautious and usually
remain in their stable job
Top management should encourage a philosophy of
intrapreneurship
• Employee performance of recognizing and managing new ideas
should be directly linked to their rewards
• Encourages change through innovation
Entrepreneurial qualities
• Opportunists
• Perseverance and commitments
• Open minded
• Independent spirits
• Flexible
• Good leaders
• Risk takers
• Creative thinkers
• Passionate visionaries
• Other (quick decision-makers, communicates clearly, insightful,
progressive, understands target market)
Entrepreneurial skills and activities
Environmental scanning
• Identifies threats before they’re imminent
• Identifies possible opportunities and gaps in the market
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Nikkiwaite2@gmail.com
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