The role of entrepreneurship (and entrepreneur) and intrapreneurship (and intrapreneur) in overall business activity AO3
AO3 You need to be able to: Demonstrate synthesis and evaluation. Command terms these terms require you to rearrange component ideas into a new whole and make judgments based on evidence or a set of criteria. Compare, Compare and contrast, Contrast, Discuss, Evaluate, Examine, Justify, Recommend, To what extent
Business Organisation and Environment
Remember what a business is?
Factors of Poduction
Entrepreneur (Rewarded with profit) - the organiser of the factors of production, risk-taker, innovator rewarded with profits and associated with small business as the owner.
Intrapreneur - same functions as above but within a large corporate company (so not the owner) emphasis on innovation and R and D.
See Page 12 for more detail
Reasons for starting up a business or an enterprise AO2
AO2 You need to be able to: Demonstrate application and analysis of knowledge and understanding Command Terms: These terms require students to use their knowledge and skills to break down ideas into simpler parts and to see how the parts relate: Analyse, Apply, Comment, Demonstrate, Distinguish, Explain, Interpret, Suggest
5 most quoted reasons:
1. You are your own boss
2. You get to do what you’re interested in
3. Your business = your deadlines
4. Your reward is profit
5. The big dream really can become reality
Say which of these reasons appeals to you the most: Is there a different reason that would appeal to you?
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