U1 AOS1/KK4: Sources of business opportunity Flashcards
1
Q
Innovation
A
bringing an idea to reality, improving a process
2
Q
Entrepreneurship
A
taking a risk to make a profit
3
Q
Market opportunities
A
a change to increase trade
4
Q
Changing customer needs
A
improvements that are beneficiary to customers
5
Q
Research and development
A
improve existing products, create new products and improve production process
6
Q
Technological development
A
changes that improve peoples lives and the way they operate
7
Q
Global markets
A
access to potential international markets to improve their business
8
Q
Name the 7 types of business opportunity
A
innovation, entrepreneurship, market opportunities, changing customer needs, R&D, technological development, and global markets
