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Learn: What Enterprise Means
WJEC Eduqas GCE A LEVEL in BUSINESS specification
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Welcome!Today we'll explore enterprise. This is a key concept in business studies, and it plays an important role in the economy. Let's break it down together!
What is Enterprise?Enterprise refers to the ability to take risks, show initiative, and bring innovative ideas into practice to create and grow businesses. It is often linked to entrepreneurship and helps drive economic progress.
Quick check: What does enterprise involve?
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Why is Enterprise Important?Enterprise is vital because it creates jobs, drives innovation, and helps businesses compete in a changing market. Entrepreneurs often identify gaps in the market and develop solutions, contributing to economic growth.
Enterprise involves {{blank0}}, {{blank1}}, and bringing {{blank2}} into practice.
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The Role of EntrepreneursEntrepreneurs are individuals who drive enterprise by identifying opportunities, taking risks, and creating new businesses. They contribute to society through innovation, job creation, and economic activity.
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Financial and Non-Financial MotivesEntrepreneurs may be motivated by financial motives like profit or wealth creation, but they can also be driven by non-financial motives such as personal satisfaction, independence, or contributing to society.
Which of the following are non-financial motives for entrepreneurs? (Select all that apply)
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Small and Medium Enterprises (SMEs)SMEs are businesses with fewer than 250 employees. They are crucial to the UK economy, providing employment opportunities and driving innovation in various industries.
What is a key feature of SMEs?
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Review Time!Great work! You've learned about enterprise, entrepreneurs, financial and non-financial motives, and the importance of SMEs. Now let's test your understanding with a few questions.
Which of the following describe enterprise? (Select all that apply)
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Entrepreneurs are motivated by both {{blank0}} and {{blank1}} motives.
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Match the items on the left with their correct pairs on the right
Start the lesson to answer this matching question
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