chapter 1 - industry and enterprise

chapter 1 - industry and enterprise

Enterprise

• New and emerging technologies are routinely used by creative people to produce innovative ideas

• ENTERPRISE, in relation to design, means that an idea is cultivated into a business proposal that has commercial viability as a product

• The internet and social media sites allow creative people access to very large audiences, so their ideas can be noticed by potential investors and customers

• There are a growing number of agencies looking start-up businesses to invest in

• A startup company is usually one that has come up with an idea that has the potential to grow into a profit making business

• One of the biggest growth areas is in app design and development for smart devices

• To ensure original ideas, discoveries and inventions remain the intellectual property of the person who invented them, a patent can be applied

  • Legal process of proving that you are the first person to have registered this idea or invention

  • It should stop individuals and other companies from using your patented idea or design without applying for permission or paying a fee for the right to use it

  • A registered logo next to a brand name signifies that a trademark or service mark has been registered

Crowdfunding

• Enables organizations to raise investment from individuals who believe in their idea

• Fastest growing online industry

• Use online platform to gain funding for a project

• Debt based are where contributors receive interest payments for their funds

• Equity receive shares in exchange for their funds

• Rewards they are promised rewards

• Donation are donations are charitable and usually tax refundable

• Benefits - don't need to go to a bank to get a loan

• Don't get into debt

• Easy to set up with not much money needed to set it up

• Good way of getting your product up and running

• On the internet so reaches a wide global audience

• Uses websites to advertise products as investment opportunities where people can choose to back a project with a financial donation if they think it will be viable

• Backers are often rewarded with free gifts, discounts or pree agreed part of any profits the company receives

• Popular websites: kickstarter, indiegogo, fundable

• Easy to implement

• Can get comments from people on the online platform so you get feedback

Virtual marketing and retail

• Promotion of products online and sharing experiences reviews and recommendations has rapidly become part of the retail experience

• Marketing a wider audience and potential clients

• Can promote a products service and idea

• Algorithms can generate info about users buying habits and suggest relevant retail sites for them to try using search engine optimisation (SEO)

• Blogs vlogs and social media all provide advertising platforms, and coss of retailing from a website far lower than from a high street shop

• Influences is a relatively new form of employment

Cooperatives

• A cooperative is an association of persons  (an organization of people)

• They are owned and controlled by the people to meet their economic social and or cultural needs and aspirations

• A cost-effective way to sell goods and services and are frequently based around a local community

• Jointly owned and democratically controlled business (enterprise)

Fairtrade

• Fairtrade is a system that aims to ensure that products are made in a fair way

• It involves paying producers higher prices, improving working conditions, and promoting sustainability

• Fairtrade supports the development of thriving farming and worker communities that have more control over their futures and protecting the environment in which they ilve and work

• Ad alternative approach that is based on partnership

• Products with the fairtrade mark mean that the ingredients have been produced by small-scale farmer organizations or plantations that meet fairtrade social, economic and environmental standards

• Fairtrade gives farmers a direct link to markets in richer countries, for example our supermarkets

  • Requires these links to pay fair prices for their goods