sources of business opportunity Flashcards

1
Q

innovation

A

bringing an idea to reality, improving a process

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2
Q

entrepreneurship

A

taking a risk to make a profit

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3
Q

market opportunities

A

a change to increase trade

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4
Q

changing customer needs

A

improvements that are beneficiary to customers

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5
Q

research and development

A

improve existing products, create new products and improve production process

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6
Q

technological development

A

changes that improve peoples lives and the way they operate

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7
Q

global markets

A

access to potential international markets to improve their business

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8
Q

name the 7 types of business opportunity

A

innovation, entrepreneurship, market opportunities, changing customer needs, R&D, technological development, and global markets

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