Do you think that Martin Harte displayed enterprising skills/characteristics? Explain your answer with reference to the text of the ABQ - Leaving Cert Business - Question A - 2015
Question A
Do you think that Martin Harte displayed enterprising skills/characteristics? Explain your answer with reference to the text of the ABQ.
20 marks
Worked Solution & Example Answer:Do you think that Martin Harte displayed enterprising skills/characteristics? Explain your answer with reference to the text of the ABQ - Leaving Cert Business - Question A - 2015
Step 1
Innovative/Creative
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Answer
Entrepreneurs are good at coming up with new ideas and better ways of doing things. Martin's solution was based on the ever increasing popularity of Irish Dance worldwide. This showcases his ability to think outside the box and develop new products tailored to current trends.
Step 2
Initiative/Exploiting opportunity
99%
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Answer
Martin showed initiative by bringing his footwear manufacturing expertise into the growing Irish Dancing market. He recognized a niche opportunity for Irish dancing shoes and sought to exploit it. As stated, "Martin's goal was to create a range of soft and hard dance shoes, using the finest and most durable leather..."
Step 3
Risk Taker
96%
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Answer
Being an entrepreneur involves taking both personal and financial risks. Martin invested a further €50,000 into the business for modernizing plant and equipment, displaying his readiness to take calculated risks for business growth.
Step 4
Customer Focus/Future focus
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Answer
Entrepreneurs are aware of customer needs and willing to adapt their business model accordingly. Martin recognized that the centuries-old footwear industry was in decline and sought to realign his business to meet the evolving demands of the market.
Step 5
Reality Perception/Realistic
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Answer
An entrepreneur sees situations for what they are. Martin came to realize that the footwear industry was in decline, prompting him to seek new opportunities and innovate on his current business model.
Step 6
Networking/Persuasive abilities/Human relations
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Answer
Martin sought assistance from Enterprise Ireland’s ‘Get Export Ready’ scheme. This illustrates his recognition of the importance of a network of contacts to provide guidance and support, a key characteristic of successful entrepreneurs.
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