ENTREPRENEUR REVIEWER Flashcards
Business ideas can likewise arise from the process of production and distribution.
The Process
Family and relatives may also be a source of business ideas. Friends can also be sources of business ideas and become business partners.
Relationship
business ideas are sourced from the person. personal interest
The Person
Differentiating the new product from those currently in the market
The Product
It is systematic because it follows______in responding to an inquiry.
Steps
it is rational because it adheres to the rules of ______
Logic
Involves logic and systematical analysis
Critical thinking
involves Non systematcal analysis discontinuous, and lateral thinking
Creative thinking
What is the four major business ideas
The Product
The Process
The Person
Relationship
Methods that use systematic analysis in generating new ideas are
Statistical Analysis
Market Analysis
SWOT Analysis and TOWS Matrix
Delphi Technique
refers to a systematic analysis of data generated from a survey of individuals.
Statistical analysis
is related to statistical analysis and is undertaken to know the various factors that affect the demand for a particular product or service.
Market analysis
being studied, can also be used for hypothesis
Statistical analysis
can describe the trend in the demand for a particular product, as well as show which key economic variables can significantly influence the change in the demand for a product.
Statistical analysis
may be done through surveys, interviews with key informants, and focus group discussions.
Market analysis
