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Learn: What Enterprise Means
WJEC Eduqas GCE A LEVEL in BUSINESS specification
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Welcome!Today we'll be exploring the concept of enterprise. We'll break it down step by step to understand its importance in the world of business.
What is Enterprise?Enterprise refers to the ability to identify business opportunities and take risks to create and grow a business. It involves initiative, creativity, and innovation. Entrepreneurs are the driving force behind enterprise.
The Role of EntrepreneursEntrepreneurs are individuals who start and run businesses. They take risks, invest resources, and aim to make a profit. Their role includes identifying opportunities, solving problems, and creating value for customers.
Quick check: What is the main role of an entrepreneur?
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Why Enterprise MattersEnterprise drives economic growth, creates jobs, and introduces new products or services. It encourages innovation and competition, benefiting the wider society.
Enterprise involves taking {{blank0}} to identify business opportunities and {{blank1}} value.
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Financial and Non-Financial MotivesEntrepreneurs start businesses for various reasons. Financial motives include earning profits and increasing personal wealth. Non-financial motives include independence, pursuing a passion, or making a social impact.
Which of the following are 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 play a key role in the UK economy by contributing to innovation, job creation, and local communities.
Match the items on the left with their correct pairs on the right
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Review Time!Great work! You've learned about enterprise, entrepreneurs, their motives, and SMEs. Now let's test your understanding with a few questions.
What does SME stand for?
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Which of the following describe enterprise? (Select all that apply)
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An entrepreneur drives {{blank0}} by starting businesses and {{blank1}} new ideas.
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Congratulations!You’ve completed the lesson on enterprise. Remember, enterprise is about identifying opportunities, taking risks, and creating value. Entrepreneurs, SMEs, and their motives are key aspects of this topic.
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