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Illustrate the difference between ‘enterprise’ and ‘management’. - Leaving Cert Business - Question 7 - 2009
Question 7
Illustrate the difference between ‘enterprise’ and ‘management’.
Worked Solution & Example Answer:Illustrate the difference between ‘enterprise’ and ‘management’. - Leaving Cert Business - Question 7 - 2009
Step 1
Enterprise
Answer
Enterprise refers to the ability to generate new ideas and identify opportunities. It involves having the confidence, motivation, and determination to take risks in transforming those ideas into reality. Essentially, it acts as a driving force for innovation and change. For instance, Bill Cullen, Chairman and owner of Renault Ireland, exemplifies an enterprising mindset by creating and implementing new strategies to succeed in the automotive industry.
Step 2
Management
Answer
Management, on the other hand, is the process of achieving objectives by getting activities completed efficiently and effectively through and with other people. Key activities of management include planning, organizing, and controlling resources to attain specific goals. An example of effective management is Declan Kidney, an Irish Rugby Coach, who organizes training sessions and manages team dynamics to ensure peak performance in competitions.