dynamic nature of business Flashcards
1
Q
Why do new business ideas come about?
A
New business ideas come about because of the dynamic (changing) nature of business.
2
Q
Technology
A
Changes in technology can present new ideas that haven’t been thought of before.
3
Q
Changes in consumer’s wants
A
Many ideas are developed to satisfy customer wants.
When customer needs are changing, new business ideas are developed to satisfy these needs.
4
Q
Original ideas
A
These are things that have never been thought of before. They are usually different from anything that has ever been on the market before.
These products are developed to fill gaps in the market.
5
Q
Adapting existing products
A
These new ideas make things possible with existing products that weren’t developed before.
