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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

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Question A

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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

96%

114 rated

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%

104 rated

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%

101 rated

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

98%

120 rated

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

97%

117 rated

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

97%

121 rated

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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