1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. Peak of career Staff development session Retirement Mismanagement Objective Mediation Potential Predecessor Supervision Forecast Stipulation Budget 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. Constructive Quantifiable Comparative Decisive Dependable Preferential Apologetic Agreeable Obligatory Occupant Suitable Reliable 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. Promotion Job, application Authorisation Success Qualification Attention Failure Negotiation Acceptance Intervention Dismissal Consumer 1. Advantages and disadvantages in teleconferencing: + saves time – possible to hold meetings on short notice, no time spent on travels + efficient record keeping – meeting can be recorded, keep logs and track every detail. + cuts costs – hiring equipment, a venue, buying food – teleconferencing removes all those costs - Technical issues Leads to misjudgement and misunderstanding Interruptions 2. Rewards and challenges for new entrepreneurs: - - Income – there is a huge possibility of achieving significant financial rewards than working for somebody else. Owning a successful business removes the income restraint that existing in being someone else’s employee. Flexible hours – deciding what hours to work without having to explain or justify if you need a day off Independence – being your own boss, making decisions, deciding whom to do business with and what work to do Control – it enables being involved in total operation of the business. From concept to creation, every department, every decision is in owner’s hands. Cons: - 3. Lack of demand – without understanding the market need and enough people willing to buy the product or a service, the start up won’t be a success Knowledge and skill gaps – being a first-time entrepreneur it is unlikely to know everything about running a business and in this fast changing world a lot of unexpected events can happen which sometimes it is impossible to be prepared for Financial management – poor financial planning can be the reason for failure. If the costs are greater than the revenue coming in, the business won’t succeed. Hiring the right people and being a leader – it is crucial to find the right people to help with the business. A negative employee can harm the start-up and damage team morale.