Enterprise: Strand 2


7. Compare a skill with a quality/characteristic. 8. How might the government be enterprising? 9. Explain the term ‘financial enterprise’. State two examples. 10. Explain the term ‘cultural enterprise’. State two examples. 11. Explain the term ‘social enterprise’. State two examples. 12. State an organisation that provides support to financial enterprises.


13. Róisín Ó Brien, an entrepreneur, intends to set up a t-shirt printing company in Wexford called Trendy T-Shirts at the end of next year. In her spare time Róisín volunteers in her local sports centre.


Why might Roisin volunteer when she is extremely busy as an entrepreneur?


14. Write a brief explanation of the following: Sole trader


Private limited company Co-operative


15. Explain idea generation. 16. Explain the following terms: Entrepreneur


Enterprise


Entrepreneurship


17. Name two rewards and two risks associated with being self-employed. Rewards


1. 2.


18. Illustrate your understanding of franchising. 19. Name an entrepreneur that you have studied.


Section B: Long Questions


20. Michelle Morris saw an advertisement for the sale of a small hotel in west Kerry. She carried out some market research and discovered that tourist numbers have increased significantly due to the Wild Atlantic Way and the staycation trend as a result of Covid-19. She decided to purchase the hotel. She refurbished the hotel, employed staff and opened in 2020 with the name ‘Staycation in Kerry Hotel’.


(i) List two skills that Michelle needs as an entrepreneur. (ii) If the government reduced VAT on tourism, state one effect this will have on Michelle’s business.


(iii) Why might Michelle do research before buying the hotel? (iv) What support might Michelle have from the government? (v) What type of enterprise is this?


C B A


180 Research It!


Circle your answer 1. Do I want to research this unit? 2. Will I avail of it for my CBAs?


YES MAYBE NO YES MAYBE NO


www.thinkbusiness.ie www.khanacademy.org www.studententerprise.ie


1. 2.


Risks


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