Edexcel Business - Business Choices

Edexcel Business 1.5 Entrepreneurs and Leaders

This is a set of 6 PowerPoints covering the Edexcel A Level Business specification topic of Entrepreneurs and Leaders. Specifically the contents include materials on: * Role of an Entrepreneur * Entrepreneurial Motives and Characteristics * Business Objectives * Forms of Business * Business Choices * Moving from Entrepreneur to Leader A break-down of the exact content from the specification is included below: 1.5.1 Role of an entrepreneur a) Creating and setting up a business b) Running and expanding/developing a business c) Innovation within a business (intrapreneurship) d) Barriers to entrepreneurship e) Anticipating risk and uncertainty in the business environment 1.5.2 Entrepreneurial motives and characteristics a) Characteristics and skills required b) Reasons why people set up businesses: o financial motives: profit maximisation and profit satisficing o non-financial motives: ethical stance, social entrepreneurship, independence and home working 1.5.3 Business objectives a) Survival b) Profit maximisation c) Other objectives: o sales maximisation o market share o cost efficiency o employee welfare o customer satisfaction o social objectives 1.5.4 Forms of business a) Sole trader, partnership and private limited company b) Franchising, social enterprise, lifestyle businesses, online businesses c) Growth to PLC and stock market flotation 1.5.5 Business choices a) Opportunity cost b) Choices and potential trade-offs 1.5.6 Moving from entrepreneur to leader a) The difficulties in developing from an entrepreneur to a leader