1B Sources of business opportunity: Part 1 Flashcards
1
Q
What is Innovation?
A
improving on already existing ideas, concepts or services. Eg, flip phone to smart phone.
2
Q
what is Entrepreneurship
A
taking a risk to develop, start and manage a business.
3
Q
what are market opportunities
A
a need or want that is not currently being met.
4
Q
changing customer needs
A
customers desires changing
5
Q
define market
A
a place of trade
