Enterprise Skills

An enterprise is an organisation of factors of production in such a way as to generate profits. The term also means showing initiative and entrepreneurship (Marcouse et al, 2004).

In order to develop a successful business or organisation, those in control of the company must posses key skills and traits call Enterprise skills.

These skills are required in order for an Entrepreneur to flourish in their tasks:  

  •  Ability to Innovate

Entrepreneurs, whom are able to innovate, are constantly thinking of ways to improve and develop existing products to meet the future needs of the customers. For example the first working airplane was invented, designed, made, and flown by the Wright brothers in 1903; however this wasn’t the end of the discovery. Many Entrepreneurs followed this invention looking for ways of developing it. And because of this, faster, safer, and commercial planes have been developed, which has led on from each innovators ideas.

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The McDonalds brand started developing in 1954. Ray Kroc, had teamed up with the McDonalds brothers and began the production by opening 8 restaurants. However the three entrepreneurs didn’t stop there, they continued opening more branches and began to work out a way the brand can appeal to certain group markets. They came up with a friendly mascot whom the kids could look up to and correspond the brand with. Ronald McDonald was the name, and he made his first TV appearance in 1963. This shows us that McDonalds have not just relied on customer recommendation, but have used ...

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