Higher Business Management<br />Entrepreneur Task<br />Ryan Bryceland<br />
What is an entrepreneur?<br />Ryan Bryceland<br />An entrepreneur is someone who combines all other three factors of production: land, capital and labour.<br />They are who has possession of a new enterprise, venture or idea and is accountable for the inherent risks and the outcome of a product.<br />
Entrepreneurs and their Businesses<br />Ryan Bryceland<br />Richard Branson – Virgin.<br />Lord Alan Sugar – Amstrad.<br />Steve Jobs – Apple.<br />Mark Zuckerberg – Facebook.<br />
Richard Branson<br />Ryan Bryceland<br />Branson is owner of the franchise Virgin, whose business expansions stretch from skin cell centres to air travel to a record company.<br />He started his business selling stolen goods from the trunk of his car and this eventually led him into buying a chain of record stores and from their the business expanded.<br />He is now worth approximately £2.6bn.<br />
Lord Alan Sugar<br />Ryan Bryceland<br />Sugar’s main business venture was the electronics company Amstrad.<br />He also owns and has shares in other companies such as Amsair, Amsprop, Viglen Ltd and Amscreen as well as being chairman of Tottenham Hotspur from 1991-2001.<br />Having sold his company Amstrad he is still worth approximately £770m.<br />
Steve Jobs<br />Ryan Bryceland<br />Steve Jobs is the co-founder (along with Steve Wozniack) and chairman of electronic gadget company Apple.<br />He also created the animation studio PIXAR before selling it to the Walt Disney Company and then becoming one the company’s directors.<br />He created the Macintosh and Apple’s ventures now stretch to the iPod, iPhone and MacBook.<br />He is worth around $8.3bn.<br />
Mark Zuckerberg<br />Ryan Bryceland<br />Zuckerberg is an American computer programmer and internet entrepreneur.<br />He and some of his classmates founded Facebook and he is now the CEO of the company.<br />He is worth approximately $13.8bn.<br />
Skills & Traits of an Entrepreneur<br />Ryan Bryceland<br />Entrepreneurs have to be willing to take the risk that their business will make the money back that they have used to fund it and a net profit.Therefore they have to be brave!<br />They have to have knowledge of the business world to maximise their businesses profit and limit expenditure in order to make the business a success.<br />They have to see the opportunity to expand the business where possible.<br />You need courage, knowledge and luck to become a successful entrepreneur!<br />
Role of an Entrepreneur in a Business<br />Ryan Bryceland<br />The entrepreneur has to come up with the idea for the business.<br />They have to come up with the capital to fund the business, either by raising their own or borrowing from others.<br />They have to take the risk that the business will be successful and make a profit.<br />The have to ensure the human and machinery power are in place to keep the business running.<br />
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