Enterprise

CharacteristicsIs an attribute or a trait that is part of you

personality.It is innate as you are born with it.Examples include: confidence, independence, etc

SkillsIs something that you learn over time with

plenty of practice.Examples include: reading, writing, listening,

communicating, etc.

Enterprise CharacteristicsMICRA

MotivatedIndependentInnovative/creativeConfidentRisk TakerAmbitiousAnalytical

Enterprise SkillsHIDRIP

Human RelationsInner ControlDecision MakingRisk TakingInnovationPlanning (Goal Setting)Problem Solving

Time Management Is a skill that is used to make the best use of your

time.You set goalsYou break the goals into tasksYou prioritiseYou delegate (share out the work)

Good time management reduces stress.

Risk ManagementIs a planned approach to managing possible chance

happenings.All risks are identified eg. fire, theft, etc.The chance of the risk occurring is calculated, e.g.

1% = low risk, 50% = high riskCalculate the cost if the loss were to occurr.Calculate the cost of insuring the risk

Types of Risk Takers Risk avoiders - Will not take a chance at all Risk neutral - Will only take a risk if the reward

and the chance of success is high Risk acceptors - Will take a chance even if the

chance of success is small.

Types of Problem SolvingProactiveTaking the initiative.Making the first move to solve a problem.

ReactiveWaiting for others to make the first move.

NetworkingThis means making links of contacts with other

stakeholders.This helps improve business opportunities.Examples include: meeting people at golf

clubs, Lions club, etc.

FeedbackIs the skill of using information gained from data,

research or people.To judge the progress of a product or service.Example: Listening to customer suggestions or

complaints.

Recall and ReviewWhat is Enterprise?List and explain five enterprise characteristicsList and explain five enterprise skillsPrioritise the skills/characteristics required to be

an entrepreneur