1.3.5 - Entrepreneurs and leaders

Explain the entrepreneur role in creating and setting up a business.

Use a - creating a business to connect the rule to the data and decision in the question.

This matters because a - creating a business determines what can be inferred or chosen; begin with the stated conditions and keep the conclusion tied to the evidence.

Example: apply a - creating a business to one small, clearly defined case, show the key step or comparison, and explain the result in words.

Boundary: a - Creating a business is not a universal recommendation. Check the syllabus scope, assumptions, units and the limits of the evidence before generalising.

Explain the entrepreneur role in running, expanding and developing a business.

Use b - running and developing a business to connect the rule to the data and decision in the question.

This matters because b - running and developing a business determines what can be inferred or chosen; begin with the stated conditions and keep the conclusion tied to the evidence.

Example: apply b - running and developing a business to one small, clearly defined case, show the key step or comparison, and explain the result in words.

Boundary: b - Running and developing a business is not a universal recommendation. Check the syllabus scope, assumptions, units and the limits of the evidence before generalising.

Explain innovation within a business through intrapreneurship.

Use c - intrapreneurship to connect the rule to the data and decision in the question.

This matters because c - intrapreneurship determines what can be inferred or chosen; begin with the stated conditions and keep the conclusion tied to the evidence.

Example: apply c - intrapreneurship to one small, clearly defined case, show the key step or comparison, and explain the result in words.

Boundary: c - Intrapreneurship is not a universal recommendation. Check the syllabus scope, assumptions, units and the limits of the evidence before generalising.

Analyse barriers to entrepreneurship.

Use d - barriers to entrepreneurship to connect the rule to the data and decision in the question.

This matters because d - barriers to entrepreneurship determines what can be inferred or chosen; begin with the stated conditions and keep the conclusion tied to the evidence.

Example: apply d - barriers to entrepreneurship to one small, clearly defined case, show the key step or comparison, and explain the result in words.

Boundary: d - Barriers to entrepreneurship is not a universal recommendation. Check the syllabus scope, assumptions, units and the limits of the evidence before generalising.

Explain how entrepreneurs anticipate risk and uncertainty in the business environment.

Use e - entrepreneurial risk and uncertainty to connect the rule to the data and decision in the question.

This matters because e - entrepreneurial risk and uncertainty determines what can be inferred or chosen; begin with the stated conditions and keep the conclusion tied to the evidence.

Example: apply e - entrepreneurial risk and uncertainty to one small, clearly defined case, show the key step or comparison, and explain the result in words.

Boundary: e - Entrepreneurial risk and uncertainty is not a universal recommendation. Check the syllabus scope, assumptions, units and the limits of the evidence before generalising.

Identify characteristics and skills required by entrepreneurs.

Use a - entrepreneurial characteristics and skills to connect the rule to the data and decision in the question.

This matters because a - entrepreneurial characteristics and skills determines what can be inferred or chosen; begin with the stated conditions and keep the conclusion tied to the evidence.

Example: apply a - entrepreneurial characteristics and skills to one small, clearly defined case, show the key step or comparison, and explain the result in words.

Boundary: a - Entrepreneurial characteristics and skills is not a universal recommendation. Check the syllabus scope, assumptions, units and the limits of the evidence before generalising.

Compare financial motives such as profit maximisation and satisficing with non-financial motives such as ethics, social entrepreneurship, independence and home working.

Use b - motives for setting up businesses to connect the rule to the data and decision in the question.

This matters because b - motives for setting up businesses determines what can be inferred or chosen; begin with the stated conditions and keep the conclusion tied to the evidence.

Example: apply b - motives for setting up businesses to one small, clearly defined case, show the key step or comparison, and explain the result in words.

Boundary: b - Motives for setting up businesses is not a universal recommendation. Check the syllabus scope, assumptions, units and the limits of the evidence before generalising.

Explain survival as a business objective.

Use a - survival objective to connect the rule to the data and decision in the question.

This matters because a - survival objective determines what can be inferred or chosen; begin with the stated conditions and keep the conclusion tied to the evidence.

Example: apply a - survival objective to one small, clearly defined case, show the key step or comparison, and explain the result in words.

Boundary: a - Survival objective is not a universal recommendation. Check the syllabus scope, assumptions, units and the limits of the evidence before generalising.

Explain profit maximisation as a business objective.

Use b - profit maximisation objective to connect the rule to the data and decision in the question.

This matters because b - profit maximisation objective determines what can be inferred or chosen; begin with the stated conditions and keep the conclusion tied to the evidence.

Example: apply b - profit maximisation objective to one small, clearly defined case, show the key step or comparison, and explain the result in words.

Boundary: b - Profit maximisation objective is not a universal recommendation. Check the syllabus scope, assumptions, units and the limits of the evidence before generalising.

Analyse sales maximisation, market share, cost efficiency, employee welfare, customer satisfaction and social objectives.

Use c - other business objectives to connect the rule to the data and decision in the question.

This matters because c - other business objectives determines what can be inferred or chosen; begin with the stated conditions and keep the conclusion tied to the evidence.

Example: apply c - other business objectives to one small, clearly defined case, show the key step or comparison, and explain the result in words.

Boundary: c - Other business objectives is not a universal recommendation. Check the syllabus scope, assumptions, units and the limits of the evidence before generalising.

Apply opportunity cost to business choices.

Use a - opportunity cost to connect the rule to the data and decision in the question.

This matters because a - opportunity cost determines what can be inferred or chosen; begin with the stated conditions and keep the conclusion tied to the evidence.

Example: apply a - opportunity cost to one small, clearly defined case, show the key step or comparison, and explain the result in words.

Boundary: a - Opportunity cost is not a universal recommendation. Check the syllabus scope, assumptions, units and the limits of the evidence before generalising.

Analyse trade-offs in business choices.

Use b - trade-offs to connect the rule to the data and decision in the question.

This matters because b - trade-offs determines what can be inferred or chosen; begin with the stated conditions and keep the conclusion tied to the evidence.

Example: apply b - trade-offs to one small, clearly defined case, show the key step or comparison, and explain the result in words.

Boundary: b - Trade-offs is not a universal recommendation. Check the syllabus scope, assumptions, units and the limits of the evidence before generalising.