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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 and its importance in business. This lesson is tailored to help you understand key concepts step by step.
What is Enterprise?Enterprise refers to the process of identifying business opportunities, taking risks, and organising resources to start and run a business. Entrepreneurs use enterprise to create products or services that solve problems or meet customer needs.
Why is Enterprise Important?Enterprise drives economic growth, creates jobs, and encourages innovation. Entrepreneurs often bring new ideas to life, improving industries and benefiting society overall.
Which of the following best explains enterprise?
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The Role of EntrepreneursEntrepreneurs are individuals who take on the risk of developing and managing a business. They identify gaps in the market, organise resources, and often innovate to meet customer needs.
An entrepreneur is someone who {{blank0}} and {{blank1}} to create a business.
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Types of Entrepreneurial MotivesEntrepreneurs may have financial motives (e.g., earning profit) or non-financial motives (e.g., achieving personal goals, helping others, or pursuing a passion).
Which of the following are non-financial motives for entrepreneurs? (Select all that apply)
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Small and Medium Enterprises (SMEs)SMEs (Small and Medium Enterprises) are businesses with fewer than 250 employees. They play a vital role in the UK economy by creating jobs, driving innovation, and contributing to 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, and SMEs. Now let's test your understanding with a few questions.
Which of the following is a key feature of SMEs?
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Which of the following describe enterprise? (Select all that apply)
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SMEs contribute to the UK economy by {{blank0}} and {{blank1}} in local communities.
Start the lesson to answer this fill in the blank question
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