Theme 1 : 1.1
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Last updated 3:30 PM on 2/1/26
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8 Terms
1
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Why do new business ideas come about
changes in technology
Changes in consumer wants
Existing products become obsolete
2
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How do new ideas come about
Original ideas - invention
Adapt existing products - innovation
3
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What’s a risk to an entrepreneur ?
Business failure
Lack of security
Financial loss
4
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Reward
Business success
= sense of achievement/ self esteem
profit / finanacial gain
Independence/ control = schedule/ decisions
5
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6
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7
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8
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Note 
Flashcards (165)