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Outline two characteristics/skills of an entrepreneur - Leaving Cert Business - Question 3 - 2008
Question 3
Outline two characteristics/skills of an entrepreneur. (i) (ii)
Worked Solution & Example Answer:Outline two characteristics/skills of an entrepreneur - Leaving Cert Business - Question 3 - 2008
Step 1
(i) Innovation
Answer
Innovation is a critical characteristic of an entrepreneur. This involves the ability to generate new ideas, products, or services that meet market needs. Successful entrepreneurs often leverage innovation to differentiate themselves from competitors and to create opportunities for growth.
Step 2
(ii) Risk-taking
Answer
Risk-taking is another essential skill of an entrepreneur. It refers to the willingness to take calculated risks in order to achieve business goals. Entrepreneurs must assess potential risks and rewards, making informed decisions that can lead to significant financial gains or losses.