Studied by 9 people
why new business ideas come about
changes in technology
changes in what consumers want
products and services becoming obsolete
how new business ideas come about
original ideas
adapting existing products/ services/ ideas
entrepreneur
a person who starts up and takes on the risk of a business
obsolete
out-of-date, no longer in use
m - commerce
using mobile technologies to carry out business transactions
e-commerce
using the internet to carry out business transactions
demographic
related to population balance
average age, income etc
three main risks for new businesses
business failure
financial loss
lack of security
the purpose of business activity
to produce goods or services
to meet customer needs
to add value
how do we add value?
convenience
branding
quality
design
unique selling point
