PFS3A01 compile byN.L MhlangaStudent no: 201205145Learning area: Business studies Grade 11Topic: Characteristics of an entrepreneur

ENTREPRENEURSHIP

What is Entrepreneurship?

Is the practice of starting a new business or reviving an existing organization. But decisions have to be made before launching a new enterprise

ADVANTAGES OF ENTREPRENEURSHIP

Employment for near & dear ones Prolonged career for next generation Freedom to use own ideas – innovation & creativity Self Employment Unlimited income Independence

Entrepreneur means someone who owns a business who will make decision, take action and think that he can control his own destiny. There are times that most of the employees getting bored with their work. That is why most of them want to be their own boss.

Common Mistakes that an Entrepreneur Makes

All successful entrepreneurs share a few qualities and skills that allow them to be successful. These inherent qualities can be taught; but they often seem to be an inherent driving force that sends individuals down the path of being in business or formally training to for a career in business.

Here are some characteristics

of a real entrepreneur:

1. Leadership. An entrepreneur is required to have strong decision-making abilities and be able to motivate people toward a common

goal.

2. Self-motivated. Successful entrepreneurs work tirelessly to resolve the problems that

confront them.

3. Ethics and integrity. If you cannot demonstrate that you have high integrity,

nobody will do business with you.

4. Not afraid of failure. Successful entrepreneurs must take risks in order to

obtain rewards.

5. Innovative. Successful entrepreneurs are always coming up with new ideas or working

to improve existing ones.

6. Always learning. Entrepreneurs are not afraid to ask questions when necessary.

7. Competitive. Entrepreneurs enjoy a challenge and like to win.

8. A strong network of peers. The best entrepreneurs understand that they cannot

succeed alone.

TYPES OF ENTREPRENEURIAL ORGANISATION

Co-operatives

Service production

Large scale

Non-profit

Profit

Local

National

International

Provincial

REFERENCES LIST

Limuelp, P.(2011). EntrepreneurshipBhandari, A.(2013). Characteristics of an entrepreneurVilladarez, G.(2012). Characteristics of A real entrepreneurLeblanjo, L.(2013) .Characteristics of entrepreneurial ventures