1. Enterprise

2. What is Enterprise?
 An attempt to start
something new;
with vision and
confidence and
entrepreneur will
take the initiative
and the risk to
profitably exploit
this opportunity

3. Entrepreneur
 Applies enterprise
to setting up a
business, who
takes the risks in
setting up the
business

6. Intrapreneurship
 A person that is enterprising within a business
 An intrapreneur works for an org and comes
up with new ideas/ new ways of solving
problems/ ways of saving money or increasing
revenue
 e.g. an employee decided to cut costs in
making matches by putting the flint on only
one side of the matchbox or any employee
that comes up with a new product idea e.g.
Apple i pod
 Gov dept: a more efficient service e.g on line
tax payment; Manu co.adapting a machine to
make it safer; within a service industry (del)

7. Characteristics of
Entrepreneurs…
 Confident
 Believe in their ability to successfully put ideas into
practice, even when others have doubts
 Flexible
 Able to respond to changes and adapt their plans to
work toward their objective or to revise the
objectives
 Realistic
 They are able to judge what they can achieve and
not to get carried away with over optimistic plans
which will fail
 Prepared to take moderate risks
 They are willing to take risks to succeed in a new
business after assessing the degree of risk involved

8. Characteristics of
Entrepreneurs
 Decisive
 They are able to make good decisions within a
short period of time so as not to miss out on
an opportunity when it arises
 Energetic
 They are able to work hard and with
enthusiasm over long periods of time to
ensure that things get done on time
 Innovative/ creative
 They can think of new ways of doing things or
new product ideas or new materials that could
be used to make a product more successful

9. Other Characteristics
 Being a leader
 Being future focused
 Being resilient
 Being motivated

10. Enterprise skills
 Inner control
 The ability to remain objective and disciplined when
doing business. Able to manage the stress that
may come from the pressure of work or difficult
situations that may arise
 Planning/ setting goals
 The ability to set out a programme of what they will
do in the future in order to achieve goals or
objectives (goal setting, prioritising, time mgt
 Risk taking (assessing and managing risk)
 The ability to estimate the level of risk involved in a
project and to decide if it is worth taking that risk to
get any benefits that might arise if the project is
successful

11. Enterprise skills
 Decision making
 The ability to make good decisions within a short
time frame. This involves being able to see all of
the options available in a situation and to weigh up
the benefits and consequences of each before
choosing the one which will give the best overall
result
 Human relations (managing people)
 The skill which allows an entrepreneur to deal
successfully with other people and to build good
working relationships. (communicating, motivating,
leading and managing people

12. Other Enterprise skills
 Innovation
 Recognising and overcoming
barriers to communication
 Stress management
 Time management
 Using feedback
 Reality perception

13. Enterprise in action: Home
 A family grows
organic vegetables in
their garden to
provide their own
food and ensure a
healthy diet
 The children in a
family set up a rota of
household chores to
be done so that
everyone shares the
workload

14. Enterprise in Action:
Schools
 A group of transition
year students
organise a basketball
blitz for the new first
year students to help
them get to know one
another
 A teacher sets up a
drama group after
school so that pupils
can write and perform
their own plays

15. Enterprise in the
Community
 Setting up a group
who visit and read to
older people living
alone in the area
 Fundraising by the
people in an area to
build a community
centre which is badly
needed

16. Enterprise in Business
 A city centre launderette owner
starts a new service collecting
bags of laundry from people at
their offices early in the morning
and returning them cleaned and
ironed before the end of the
working day
 Two design graduates start a new
business producing insulated cloth
bags to keep cold drinks while
people are drinking them

17. Enterprise at work
(intrapreneurship)
 A machinery
salesman notices that
customers have high
levels of wastage of
materials and
suggests a way of
improving his
company’s machines
to reduce wastage for
customers. This
change boosts
company’s sales and
gives them an adv
over competitors

18. Enterprise in the Public
Sector
 The gov set up the IFSC on a
derelict dockland site in dublin
as a low tax centre for
international banks. More than
11,000 people are employed
which has attracted hotels,
restaurants, shops and other
businesses into the area
 The city and county councils
which organised concerts and
other cultural events in their
parks around the country in
recent years are a good
example of enterprise by local
authorities

19. Importance of Enterprise
 Things get done
 Needs of society for goods and services
are met
 Jobs are created
 Higher standard of living
 Taxes are collected
 Business world able to respond to change
 New products & services are introduced
 Confidence in society about its ability in
the future

20. Reasons for the growth in
enterprise in Ireland
 The gov offers incentives and
assistance
 Positive attitude to enterprise
(cultural change)
 Ireland has embraced new
technologies
 Availability of an educated workforce
 The number of MNC’s in the country