Entrepreneurship

Question 1

Define entrepreur and intrapreneur

Answer 1

• Someone who starts a venture to solve a problem and make profit
• Someone who brings enterprising characteristics to the workplace (less risks)

Question 2

Ways to reserve an invention or innovation

Answer 2

• Patent: Legal right to ownership of invention

- Copyright: Exclusive right to produce works of music, software, etc.

Question 3

6 ways to innovate

Answer 3

• Packaging
• How it is used
• Marketing strategy
• Design
• Manufacturing process
• Distribution process

Question 4

Examples of SWOT analysis factors

Answer 4

Strengths:

• Unique product / quality
• Location
• Marketing / image
• Production cost

Weaknesses:

• Undifferentiated product / poor quality
• Poor location
• Lack of capital
• Poor marketing / reputation

Opportunities:

• Demographics (demand)
• Social (trends)
• New markets
• Joint ventures, strategic alliances

Threats:

• Economic conditions (recession)
• Competition
• New innovating products
• Changing demographics