Business Flashcards
1
Q
What are the reasons why one would want to start up a business?
A
- to be your own boss
- to utilize your skills
- increased control
- increased income
- self actualization
2
Q
What are the steps in establishing a business?
A
- conceptualizing
- research
- identify resources
- creating a business plan
- acquire funds
- operation of business
3
Q
What is the acronym for the steps in establishing a business?
A
CRICAO
4
Q
Conceptualizing.
A
Coming up with a business idea/concept.
5
Q
Research.
A
Market research needs to be taken to identify customers wants and needs.
6
Q
Identify resources.
A
Look for workers, material and financial resources.
