Entrepreneur
Business: Cambridge International GCSE (2027 Exams), topic 1.3.9
Entrepreneur
An entrepreneur is a person who sets up a business and takes on the risk of enterprising activity. They have to be able to:
Identify business opportunities
- Enterprise involves identifying business opportunities, and then creating a business (or expanding an existing business) to fill a gap in a market.
- There is always a risk of failure, but there is often a large reward for success.
Take risks
- An entrepreneur is someone who takes on the risk of enterprising activity.
Characteristics of entrepreneurs 1
- An entrepreneur must show creativity by coming up with new ideas, products, or ways of working.
- An entrepreneur must show resilience by recovering quickly from setbacks and continuing despite challenges.
- An entrepreneur must show decision-making skills by making confident choices, often with limited information.
Characteristics of entrepreneurs 2
- An entrepreneur must show leadership by motivating and organising people to work towards business goals.
- An entrepreneur must show networking ability by building contacts to gain advice, funding, or opportunities.
Examples of successful entrepreneurs
- Oprah Winfrey is an entrepreneur who built a media empire, showing resilience and creativity.
- James Dyson is an entrepreneur who created the Dyson vacuum cleaner, showing innovation to fill a market gap.
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What is an entrepreneur?
A entrepreneur has to be able to...