Types of Enterprises According to Concept

Question 1

This usually means creating or stumbling on a new idea or concept, and creating or inventing
something radically new

Answer 1

An enterprise can involve a new concept

Question 2

An example of this would be Jollibee, which created a new business based on the existing

selling hamburgers and chicken

Answer 2

Existing concept and/or new business

Question 3

An entrepreneur can have a laundry business. Dean of Clean, for example, had three branches in Metro Manila, mostly in the center and south areas of Metropolis. This setting up of branches or franchises can
be considered as an example of this type of franchise.

Answer 3

Existing concept and an existing business