Buisness Flashcards
Dynamic
Changing all the time
Entrepreneur
Someone who creates or owns their own business
E-commerce
Online through technology shopping paying online
Consumer
People who buy off buisness
Obsolete
Some thing that is not useful anymore
Profit
Where revenue exceeds costs over a period of time
Cash flow
Money coming in and out from the business
Stake holder
Anyone with an interest to the business
Enterprise
Is a buisness
Adding value
Making it stand out
USP
Unique selling points
Production
Process of making production
Supplier
Someone who supplies other buisness
What is a reward of starting your own business
Profit,independence,buisness success
What is a risk of starting your own business
Business failure,financial loss,lack of security
What are 3 ways new ideas come about
Consumer demand,gap in the market,or originally idea
Why do buisness ideas come about
Gap in the market,product adapted and approved,product or services becoming obsolete
1 role of a buisness
To supply customers demands /needs
The difficulty to add value
Someone can copy your unique selling point,hard to find gap in the market becomes competitors are selling cheaper or better quality in the market
