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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
Definition of 'Enterprise'
Answer
'Enterprise' refers to the ability to generate new ideas and to identify opportunities. It encompasses the confidence, motivation, and determination needed to take risks and transform ideas into reality. Essentially, an enterprise acts as an agent of change, influencing the marketplace with innovative solutions and projects. An example of a successful entrepreneur in this context is Bill Cullen, the owner of Renault Ireland.
Step 2
Definition of 'Management'
Answer
'Management' is the process of achieving objectives through the efficient and effective coordination of activities with and through other people. It involves planning, organizing, and controlling resources to achieve set goals. Managers focus on using available resources wisely to ensure that tasks are completed on time and within budget. A notable figure in this realm is Declan Kidney, an Irish rugby coach known for his efficient management style.