industry Flashcards
what is crowdfunding?
where people invest in the manufacture of a product by investing money and may also get a share of the company
what is the aim of the people who invest money in crowdfunding?
to make a profit from their investment
where can crowdfunding be set up?
websites, social medias
what does the fair trade symbol show?
that the product has been made in a third world country and the producer (farmer) has received a fair price and working conditions
what are some examples of fair trade?
-farmers are paid a living wage
-workers conditions are monitored and kept safe
-use of safety equipment like goggles
-child labour is banned
-toxic chemicals which could harm staff are banned
what are co-operatives?
a business which is run by its workers and profits are shared equally between all the workers
what is the benefit of fair trade?
consumers are becoming more aware of how products can be unethical
what is an advantage of crowd funding?
designers can raise large amounts of money to finance their project
what is virtual marketing?
advertising a product or service using popular websites and social media
what are the advantages of virtual marketing?
-A wide range of people can be reached.
-Celebrities or influencers promote products or brands through social media posts, blogs and vlogs.
-Adverts can be posted on popular sites.
-Websites can complete search engines optimisation to ensure they are more visible on keyword searches.
what are the advantages of a virtual workplace?
-There is no need to rent office space, and travel time and expenses are reduced.
what are the 4 positives of collaborative working?
-putting everyone’s ideas together results in a wider range of resources to choose from
-task analysis can be easier to do as a group sharing questions and thoughts
-research can be carried out collectively and you can share thoughts or ideas
-collaborative work can help you gain confidence as you work through your project
