1 business activity Flashcards
1
Q
what are the characteristics of a entrepreneur
A
D-determination
R-risk taking
C-confidence
C-courage
2
Q
what are the three purposes of business enterprise and entrepreneur ship?
A
- spotting an opportunity
- developing an idea
- satisfying customer needs
3
Q
define spotting an opportunity
A
- spotting a gap in the market
- improving a product or service already provided
- producing a product or service more cheaply
4
Q
define developing an idea
A
- designing the product or service
- planning production
5
Q
define satisfying customer needs
A
- producing the product or providing the service
- marketing the product or service
6
Q
what are the 5 purposes of business planning
A
- the idea
- the people
- market research
- finance
- competitors
