Role of Entrepreneur - Quiz 2 PDF

Running and expanding/developing a business Running a business: day-to-day Once a business is started the entrepreneur will need to turn their attention to the daily running of the business This may include: completing the finances buying stock listing stock for sale...

Running and expanding/developing a business Running a business: day-to-day Once a business is started the entrepreneur will need to turn their attention to the daily running of the business This may include: completing the finances buying stock listing stock for sale contacting customers chasing payment Expanding a business There are a variety of ways an entrepreneur can expand their business: Open in another location Offer the business as a franchise or business opportunity License the product Diversify (what do you think this means?) Target other markets Merge with or acquire another business Innovation within a business (intrapreneurship) Intrapreneurship Intrapreneurship means an employee within a larger business who thinks like an entrepreneur, for example they: A. Takes risks B. Creative or innovative C. Solve problems D. Focus on processes to improve productivity E. Drive innovation F. Understand trends G. Are self-confident H. Are proactive in adding value Can you now explain to someone else the concept of intrapreneurship?