Summary
Summary Business Studies Chapter 6 grade 12 book
- Course
- Business Studies
- Institution
- 12th Grade
summarised chapter 6 in the matric syllabus textbook for IEB
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Chapter 6Entrepreneurial, management and
leadership
Entrepreneur vs Intrapreneur
● Intreprenures
- More cautious
- Circumstances often force them to remain a stable job
- Have the same qualities as entrepreneurs
- Working employees in a business
- Intrapreneurial managers will encourage change
- To achieve the ambitious goal of creating new ventures
within an existing business
- Usually, a leader will help others reach their goals/full
potential
- Innovating in a business is the definition
- Therefore an entrepreneur can also be an intrapreneur
● Entreprenures
, 7 Entrepreneurial qualities
● Passionate, visionary who believed they could do something no
one els could
● Creative thinkers, innovating di erent aspects of traditional
business
● Risk takers, took a chance by devoting there time and money
● Goodlearder, to persuade others to buy into there dream
● Independent spirits, like to be in control and are internally
motivated
● Have perseverance and commitment, they will work hard until
eventually, they reach forms of success
● Opportunist, seeing an opening and taking advantage of it
Entrepreneurial Skils
nessesary knowledge and expertise to run a business successfully.
These skills can be learned and may include all basic management
functions such as…
● POLC
- Planning (decision making, setting organisational goals)
- Organisation (how to best to group activities and resources)
- Leading (motivating members)
- Controlling (monitoring and correcting)
● CCDDDM
- Coordination (all departments must work together)
- Communication (workers know what is expected from)
Delegating (the allocation of power)
- Decision making (a choices is mad through di erent
alternatives)
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