1) What is an enterprise? What is the role of the enterprise? Discuss with examples. An enterprise is an activity or a project that produces services or products. There are essentially two types of enterprise: * Business enterprises, which are run to make a profit for a private individual or group of individuals. This includes small business. * Social enterprises, which function to provide services to individuals and groups in the community. Business enterprises
There are lots of different enterprises; many are small businesses. Sometimes one person owns and runs them; sometimes they're a family business; other businesses are owned and run by partners who aren't family relations. People usually decide to set up small business to earn an income from producing and selling products or delivering services to individuals or other businesses. To earn an income from a small business, the enterprise has to run at a profit; that is, some money should be left over for the business owner once all the costs of making the product or delivering a service have been met. Some small businesses are easy to recognize because they have a shopfront or a site where you can see them in operation, making or fixing things and serving customers. For example: restaurants, corner shops, printing works, furniture repair shops, hairdressing salons, smash repairers, small factories, farms. Franchises
An individual franchise operation is a small business that is linked to a larger enterprise. Petrol, food, clothing, mortgage consultancy - almost any product or service is available through some type of franchise operation. Social enterprises
Social enterprises are organizations led by local communities. They, too, are small businesses, but they have been set up for a social purpose. Social enterprises need to be successful just as business enterprises do, but their success is measured in terms of social rather than monetary...