the qualities entrepreneurs and intrapreneurs need for success
1.1 Enterprise – The Role of Entrepreneurs and Intrapreneurs
What is an Entrepreneur?
👩💼 An entrepreneur is a person who starts a new business, takes on financial risk, and creates value from a fresh idea. Think of them as the gardeners who plant seeds, nurture them, and harvest a new crop.
What is an Intrapreneur?
👨💻 An intrapreneur works within an existing organisation, acting like a chef who experiments with new recipes while using the kitchen’s existing equipment. They innovate, but their risk is shared with the company.
Key Qualities for Success
| Quality | Why It Matters |
|---|---|
| Vision | Guides decisions, like a compass for a sailor. |
| Risk‑Tolerance | Allows stepping into the unknown, similar to a tightrope walker. |
| Resilience | Bounces back from setbacks, like a rubber ball. |
| Creativity | Generates innovative solutions, akin to a painter mixing colors. |
| Leadership | Motivates teams, like a conductor guiding an orchestra. |
| Financial Acumen | Manages budgets; remember $ROI = \frac{Profit}{Investment} \times 100\%$. |
Exam Tips
- Use the PESTLE framework to analyse external factors affecting entrepreneurs.
- Remember the difference between entrepreneurial risk (personal) and intrapreneurial risk (shared).
- When discussing qualities, pair each with a real‑world example (e.g., Elon Musk for vision, Sara Blakely for resilience).
- Use bullet points for clarity and to demonstrate structured thinking.
- Include at least one quantitative example (e.g., ROI calculation) to show numerical understanding.
Quick Reflection Question
🤔 If you were to start a small online shop, which two qualities would you prioritise first and why? Write a brief answer (3–4 sentences) and bring it to class for discussion.
Revision
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