the qualities entrepreneurs and intrapreneurs need for success

1.1 Enterprise – The Role of Entrepreneurs and Intrapreneurs

What is an Entrepreneur?

👩‍💼 An entrepreneur is a person who starts a new business, takes on financial risk, and creates value from a fresh idea. Think of them as the gardeners who plant seeds, nurture them, and harvest a new crop.

What is an Intrapreneur?

👨‍💻 An intrapreneur works within an existing organisation, acting like a chef who experiments with new recipes while using the kitchen’s existing equipment. They innovate, but their risk is shared with the company.

Key Qualities for Success

QualityWhy It Matters
VisionGuides decisions, like a compass for a sailor.
Risk‑ToleranceAllows stepping into the unknown, similar to a tightrope walker.
ResilienceBounces back from setbacks, like a rubber ball.
CreativityGenerates innovative solutions, akin to a painter mixing colors.
LeadershipMotivates teams, like a conductor guiding an orchestra.
Financial AcumenManages budgets; remember \$ROI = \frac{Profit}{Investment} \times 100\%\$.

Exam Tips

  1. Use the PESTLE framework to analyse external factors affecting entrepreneurs.

  2. Remember the difference between entrepreneurial risk (personal) and intrapreneurial risk (shared).

  3. When discussing qualities, pair each with a real‑world example (e.g., Elon Musk for vision, Sara Blakely for resilience).

  4. Use bullet points for clarity and to demonstrate structured thinking.

  5. Include at least one quantitative example (e.g., ROI calculation) to show numerical understanding.

Quick Reflection Question

🤔 If you were to start a small online shop, which two qualities would you prioritise first and why? Write a brief answer (3–4 sentences) and bring it to class for discussion.