1.5 Flashcards
1
Q
why do new business ideas come about ?
A
- advances in technology
- changes in consumer wants
- products and services becoming obsolete
2
Q
what are the 2 types of ideas for new business ?
A
- original ideas
- adapting existing products
3
Q
risks of starting a new business (3)
A
- failure
- financial loss
- lack of security
4
Q
what is branding ?
A
branding involves coming up with a distinctive logo/image that adds value to the customer
5
Q
what are the main aims/objectives of businesses (4)
A
- profit maximisation
- increase market share
- growth
- survival
6
Q
A
