3. Explain what Enterprise is & its relevance
Describe types of risk & reward
associated with entrepreneurs
Outline the characteristics of Entrepreneurs
Explain what an Intrapreneur is
List and explain types of enterprise skills
4. ‘Enterprise involves people using their
initiative to come up with ideas
or something new that they can
turn into a business’
It also involves taking the risk
to set up a business or
achieve their goal’
Let’ see example p.60
5. Enterprise in Business
Enterprise in the home
Enterprise in schools
Enterprise in the community
Enterprise in the Public Service
Let’s see the example p.62/63!
6. Not just about idea creation
Must also assess different situations and make
decisions
Leadership – Make decisions and motivate staff
Examples of Enterprise:
1. In New Business e.g. Opportunity - Superquinn
2. In Existing Business e.g. Expansion
3. In the Home – Household budget
4. In School – Funds for school tour
5. In the Local Community – Thousand Stars
6. In the Public Sector – Enterprise Ireland
7. In work (Intrapreneurs)
7. Group discussion!
Are entrepreneurs born or made?
9. Learn to identify opportunities
Learn to set goals and plan
Learn effective time management
Learn to manage stress
Learn to get along with people
Let’s read example p.68!
10. Innate Learned
1. Confident/proactive 1. Identifying opportunities
2. Determined/motivated 2. Set goals & plan
3. Innovative/creative 3. Time management
4. Realistic risk taker 4. Manage stress
5. Decisive yet flexible 5. Human relations
11. Employees working within an organisation who
use their initiative to act like
entrepreneurs
I.e. Coming up with ideas for a new
product or ways to reduce costs etc.
Let’s see the examples p. 64!
12. 1. Profit , better income etc.
2. Be your own boss
3. Try a new business idea to see if it succeeds
4. To become as successful as others
5. To take a risk as you can afford it
6. To expand, diversify or open a new branch
14. To create an idea that would work in business
To take the risk in starting the business
To invest capital in the business
To manage the firm and monitor its expansion
To employ suitable staff
To ensure customer satisfaction with products
Intrapreneurs
Entrepreneurs within a business
15. For Entrepreneurs
◦ Personal satisfaction
For Business
◦ Profitability
◦ Intrapreneurship
For Society
◦ Job creation
◦ Local & national self-confidence
◦ Creativity is encouraged
◦ Charitable services created
◦ More taxes collected by Government
16. Historically low up take of Enterprise in Ireland
USA – Entrepreneurs are widespread
Government support for Enterprise is good
Business in Ireland is highly concentrated in our
capital
Entrepreneurship on the rise in Ireland
Discuss possible reasons for this?
Editor's Notes
Begin by reading case study on MOYA Doherty p.60!Anita Roddick, Mark Zuckerberg & Denis O’Brien
Ask the students to note that once an individual does the above they are known as Entrepreneurs!Entrepreneurs notice opportunities & are willing to take advantage of themWithout the above there would be no enterprise
Important that enterprise is encouraged and nurtured as much as possible in all areas of lifeWithout risk in business there would be no Riverdance, today fm etcGrowing organic veg, diyskilss etcTY Mini Co. LC students getting together to form a study groupCommunity, set up for non-commercial reasons rather than profit e.g. Social entrepreneur, tidy towns etc.Can be commercial and non-commercial e.g. Coillte, ESB, Failte Ireland, IFSC, CEB’s and local council-Birr Vintage Week
Look at examples p.65!Confidence in own ability, can do attitude. Proactive Versus Reactive Discuss with studentsWilling to make sacrifices for reward later, work hard, long hours, resilient when things go wrongUrge to find better ways of doing thingsNot reckless, will take a risk if possibility of successMake decisions quickly under pressure but are flexible to change
Learning to be Future focused, try to anticipate change e.g. Ipod to Ipad etc.Learning how important it is to Need to have a vision e.g. Xtra Vision, home entertainment store. VISION: identifies the goal an entrepreneur wants to move towards. It focuses their energy and creates self motivation. Vision requires a plan, must be broken into steps and short term goals that must be achieved along the way.Prioritise work, sort important from non-important tasks, learn to delegate to others, work smarter not harderStay calm and dont get stressed especially when under pressure. Good planning and time mgt help prevent thisHuman relations-Good social skills-get on easily with people, communications skills-persuading investors, attracting customers etc, listening skills and so on
Get students to do recall & review p.68!Highlighted are most obvious!
ESB ExampleA
Explain-DIVERSIFY!
Being your own boss. One of key reasonsBelief in an idea, its importance e.g. Adi Roche helping othersRichRichard Branson, went to business for enjoyment of the challengeOkTime spent elsewhereIll health
Show article on business failures in IrelandOutline incentives in irelandfor enterprise
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