Who are entrepreneurs?

A person who takes risk and makes decision to organise resources to produce goods and services

Illustration of Elon Musk by @gilangbogy

Are entrepreneurs born or made?

Entrepreneurs have the following traits, they;

1. Are willing to take risk,

2. Hard-working and dedicated,

3. Innovative and creative,

4. Passionate about their work,

5. Self-driven/motivated or persistent,

6. Confident,

7. Quick learner or analytical,

8. Communicates well

9. Creativity

Sometimes, an entrepreneur is willing to make sacrifices and take risk at their own expense for their business. Does Elon Musk have such traits?

RELATED CONCEPTS

1. What are the advantages or disadvantages of being an entrepreneur?

PAST YEAR QUESTIONS

1. What is meant by "entrepreneur"? (2 marks) May/June 2019/11

2. Define ‘entrepreneur’. (2 marks) Oct/Nov 2020/13

3. Do you think being creative is the most important characteristic of being a successful entrepreneur? Justify your answer. (6 marks) Oct/Nov 2020/12

4. Do you think a successful entrepreneur has to be a good manager? Justify your answer (6 mark) Oct/Nov 2021/12

5. Do you think being a risk-taker is a more important characteristic of a successful entrepreneur than being creative? Justify your answer. (6 mark) May/June 2022/11

6. Identify and explain two possible reasons why Kate decided to start up her own business. (4 marks) May/June 2019/11