Business 1.1.1- The Dynamic Nature of Business
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Last updated 5:10 PM on 9/18/24
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4 Terms
1
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Why do new businesses come about?
changes in technology, changes in what consumers want and products and services becoming obsolete
2
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How do new business ideas come about?
original ideas and adapting existing products/services/ideas
3
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What are original ideas?
ones that have not been used before to put a product or service into production
4
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what are adapting business ideas?
create a new product by mix and match new version of an old product or a cheaper version of an old product
