1B Sources of Business Opportuity: Part 1

Question 1

Entreprenurship

Answer 1

Taking a risk to develop, start and manggage a profitable business

Question 2

Market Opportunity

Answer 2

A need or want that is not currenetly being met by any business.

Question 3

Innovation

Answer 3

Creating and implemening new ideas or signifactly improving existing goods, services or a way of doing somthing. (same product imporving)

Question 4

Business Opportunity

Answer 4

a Favourable situation which can lead to advancment

Question 5

Changing costmer Needs

Answer 5

The Transitions in the desires of consumers.

Question 6

Demographics

Answer 6

The statistical information about the charcteristics of the population such as age, geneder….

Question 7

ethical behaviour

Answer 7

production is making goods and services in a way that avoids harming peolpe or the enviroment

Question 8

Types of Market Opporunities

Answer 8

Changing demographics
Changing societal attitudes
Changing laws and regulations
Advancments in technolgy

Question 9

sources of Business Opportunity

Answer 9

Innovation
Entrupenurship
Market opportunity
Changing customer Needs