Summative Assessment 3 Characteristics of Entrepreneurs
Summative Assessment 3 Characteristics of Entrepreneurs
Summative Assessment 3 Characteristics of Entrepreneurs
CHARACTERISTICS OF ENTREPRENEURS
I. INSTRUCTIONS:
1. Each of the following entrepreneurs has provided information
relating to their success in business. Read each interviews and BOX
the words or phrases which indicate the personal characteristics you
believe is important in owning and operating a business.
(Pat O’Brian is one of four owners of a firm that owns a local radio
station. Pat and her partners started the business ten years ago.)
The important thing is to get into a business you like and in an industry that
you know. I’d worked at a radio station for a number of years before we
formed our business. When deciding on a business to enter, you need to
know what the conditions are in the field. What is its future? Ten years ago
we saw the potential for growth in radio. The time was right for me and my
three partners to buy the radio station.
Building a business takes much more imagination and creativity than most
people think. Owning a business takes maturity and the ability to work
effectively with others, including employees. We have a large number of
people working for us now, and we’ve got to know how to deal with them.
You need to have good help, including a dependable lawyer, accountant,
insurance agent and banker. You need money. It’s difficult to raise capital,
especially on your terms. It took us three years to raise the money we
needed to purchase the radio station.
(Manuel owns an art gallery which specializes in signed prints and art
posters.)