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Enterprise

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Enterprise

  1. 1. Enterprise
  2. 2. What is Enterprise?  An attempt to start something new; with vision and confidence and entrepreneur will take the initiative and the risk to profitably exploit this opportunity
  3. 3. Entrepreneur  Applies enterprise to setting up a business, who takes the risks in setting up the business
  4. 4. Intrapreneurship A person that is enterprising within a business An intrapreneur works for an org and comes up with new ideas/ new ways of solving problems/ ways of saving money or increasing revenue e.g. an employee decided to cut costs in making matches by putting the flint on only one side of the matchbox or any employee that comes up with a new product idea e.g. Apple i pod Gov dept: a more efficient service e.g on line tax payment; Manu co.adapting a machine to make it safer; within a service industry (del)
  5. 5. Characteristics ofEntrepreneurs… Confident  Believe in their ability to successfully put ideas into practice, even when others have doubts Flexible  Able to respond to changes and adapt their plans to work toward their objective or to revise the objectives Realistic  They are able to judge what they can achieve and not to get carried away with over optimistic plans which will fail Prepared to take moderate risks  They are willing to take risks to succeed in a new business after assessing the degree of risk involved
  6. 6. Characteristics ofEntrepreneurs Decisive  They are able to make good decisions within a short period of time so as not to miss out on an opportunity when it arises Energetic  They are able to work hard and with enthusiasm over long periods of time to ensure that things get done on time Innovative/ creative  They can think of new ways of doing things or new product ideas or new materials that could be used to make a product more successful
  7. 7. Other Characteristics Being a leader Being future focused Being resilient Being motivated
  8. 8. Enterprise skills Inner control  The ability to remain objective and disciplined when doing business. Able to manage the stress that may come from the pressure of work or difficult situations that may arise Planning/ setting goals  The ability to set out a programme of what they will do in the future in order to achieve goals or objectives (goal setting, prioritising, time mgt Risk taking (assessing and managing risk)  The ability to estimate the level of risk involved in a project and to decide if it is worth taking that risk to get any benefits that might arise if the project is successful
  9. 9. Enterprise skills Decision making  The ability to make good decisions within a short time frame. This involves being able to see all of the options available in a situation and to weigh up the benefits and consequences of each before choosing the one which will give the best overall result Human relations (managing people)  The skill which allows an entrepreneur to deal successfully with other people and to build good working relationships. (communicating, motivating, leading and managing people
  10. 10. Other Enterprise skills Innovation Recognising and overcoming barriers to communication Stress management Time management Using feedback Reality perception
  11. 11. Enterprise in action: Home  A family grows organic vegetables in their garden to provide their own food and ensure a healthy diet  The children in a family set up a rota of household chores to be done so that everyone shares the workload
  12. 12. Enterprise in Action:Schools  A group of transition year students organise a basketball blitz for the new first year students to help them get to know one another  A teacher sets up a drama group after school so that pupils can write and perform their own plays
  13. 13. Enterprise in theCommunity Setting up a group who visit and read to older people living alone in the area Fundraising by the people in an area to build a community centre which is badly needed
  14. 14. Enterprise in Business  A city centre launderette owner starts a new service collecting bags of laundry from people at their offices early in the morning and returning them cleaned and ironed before the end of the working day  Two design graduates start a new business producing insulated cloth bags to keep cold drinks while people are drinking them
  15. 15. Enterprise at work(intrapreneurship)  A machinery salesman notices that customers have high levels of wastage of materials and suggests a way of improving his company’s machines to reduce wastage for customers. This change boosts company’s sales and gives them an adv over competitors
  16. 16. Enterprise in the PublicSector  The gov set up the IFSC on a derelict dockland site in dublin as a low tax centre for international banks. More than 11,000 people are employed which has attracted hotels, restaurants, shops and other businesses into the area  The city and county councils which organised concerts and other cultural events in their parks around the country in recent years are a good example of enterprise by local authorities
  17. 17. Importance of Enterprise Things get done Needs of society for goods and services are met Jobs are created Higher standard of living Taxes are collected Business world able to respond to change New products & services are introduced Confidence in society about its ability in the future
  18. 18. Reasons for the growth inenterprise in Ireland The gov offers incentives and assistance Positive attitude to enterprise (cultural change) Ireland has embraced new technologies Availability of an educated workforce The number of MNC’s in the country

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