Business concept
Presentation
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Other
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12th Grade
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Practice Problem
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Medium
jason worrell
Used 7+ times
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4 Slides • 8 Questions
1
Business concept
Lower 6th
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Business concept
An idea for a business that includes basic information such as the service or product, the target demographic, and a unique selling proposition that gives a company an advantage over competitors.
3
Sources of business concept
1.New products
2.New services
3.New processes
4.New markets
5.New organisation structures/forms
6.New sales or distribution channels
7.New development paradigms.
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When describing a business idea, the entrepreneur should answer the following questions:
What is my product/service?
What does my product/service do?
How is it different or better than other products/ services?
Who will buy the product/service?
Why will they buy the product/service?
How will the product/service be promoted and sold/offered
Who are my competitors?
5
Multiple Choice
Which of the following is NOT a source of a business concept?
New markets
New products
Existing markets
New organizational structures
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Multiple Choice
An entrepreneur creates new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying
threats
people
products
opportunities
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Multiple Choice
A
B
C
D
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Multiple Choice
A
B
C
D
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Multiple Choice
A
B
C
D
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Multiple Choice
A
B
C
D
11
Multiple Choice
A
B
C
D
12
Multiple Choice
A
B
C
D
Business concept
Lower 6th
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