Starter (4 quick questions)

1. Starter (4 quick questions) 1) Which of the following are goods?(3 answers) • School desk • Train carriage • Menu advice in a restaurant • Knife and folk • Health care at the doctors

2. Starter 2) Which of the following are examples of being enterprising? (2 answers) a) Being made redundant b) Following your bosses instructions c) Undertaking a new venture d) Taking a risk

3. Starter 3) Which one of the following is the most likely to create a competitive advantage for a small business? (1 answer) a) Having the best reputation for a high quality after sales service b) Having the same products as rivals c) Selling at higher prices than those of competitors d) Lowering prices to encourage additional sales e) Selling no products in June

4. Starter 4) Which one of the following is most likely to be an example of a plumber showing the enterprise skill of ‘seeing opportunities’? (1 answer) a) Driving to the home of a customer to fix a leaking basin b) Contacting a local house builder about doing some work for him c) Changing his mobile phone contract d) Getting his van repaired after an accident

5. Starter 1) Which of the following are goods?(3 answers) • School desk • Train carriage • Menu advice in a restaurant • Knife and fork • Health care at the doctors

6. Starter 2) Which of the following are examples of being enterprising? (2 answers) a) Being made redundant b) Following your bosses instructions c) Undertaking a new venture d) Taking a risk

7. Starter 3) Which one of the following is the most likely to create a competitive advantage for a small business? (1 answer) a) Having the best reputation for a high quality after sales service b) Having the same products as rivals c) Selling at higher prices than those of competitors d) Lowering prices to encourage additional sales e) Selling no products in June

8. Starter 4) Which one of the following is most likely to be an example of a plumber showing the enterprise skill of ‘seeing opportunities’? (1 answer) a) Driving to the home of a customer to fix a leaking basin b) Contacting a local house builder about doing some work for him c) Changing his mobile phone contract d) Getting his van repaired after an accident

9. How many did we get right?

10. Learning Objective Explore the term enterprise Investigate the skills and attributes that are needed to become an entrepreneur Success Criteria Define Enterprise and list the key features Describe the different skills and attributes needed by an entrepreneur, applying these to a case study C > justify whether or not it was a good idea for John to start up his own business B > Suggest alternative routes John could take if he wanted to leave his job in the airline and work for himself. Explain the advantages of this alternative route A+ QOWC and SPAG

11. KEY TERMSTITLE - Enterprise • Enterprise Is an organisation or business created for business ventures. They are usually associated with risk, investment, success, and ideas and innovation. • Entrepreneur- a person who owns and runs their own business and takes risks • Enterprises – Another word for businesses • Initiative – Making the first move and making things happen e.g. leaving your job and starting up your own business

12. What are the most important skills an entrepreneur should possess? All should have at least 5 ideas on a spider diagram. Some – Able to put examples

13. Skills – Your notes must include; • Determination • Decisiveness • Willingness to take risks • Showing leadership Think of examples!

14. Coin Co. International READ and DISCUSS Questions in our books

15. Are we enterprising?