JUNIOR CYCLE BUSINESS STUDIES ENTREPRISE AND SOCIETY
Entrepreneurship is acting on ideas and opportunities to turn them into something that has value for society. This value can be financial, cultural or social. Therefore, entrepreneurship can be divided into: 1. Financial enterprise
2. Cultural enterprise i 3. Social enterprise.
Entrepreneurship is the act of turning opportunities and ideas into value for society.
Financial Enterprise
Most businesses are set up with the purpose of financial gain, such as shops, restaurants and technology companies. For example, Spar, Supermacs and Dell. The value to society of financial enterprise is that it:
• Creates employment. • Provides services/goods to customers and businesses. • Contributes to economic growth (employed people spend money elsewhere). • Generates taxes that can be used to benefit society.
Cultural Enterprise
Some businesses are set up to promote the arts and culture, such as art galleries or music centres. For example, Science Gallery Dublin and the Contemporary Music Centre. Although these businesses may make a profit, it is not their main aim.
