Section 1
- Created by: lea sison
- Created on: 02-05-13 18:08
View mindmap
- Section 1-Starting a business
- Enterprise and Entrepreneurs
- Characteristics
- Passion
- Determination
- Persuasive
- Understand market
- Risk-takers
- New ideas
- Customer
- taste
- attitude
- Customer
- New ideas
- Motive
- Challenge
- Prove to themselves
- Goverment support for enterprise
- Business Link network
- advice
- Business Link network
- Failure;
- Business idea not good enough
- Idea copied by other firm
- Product/service diasappointed customer
- Characteristics
- Key consepts in business start-ups
- Transforming inputs to outputs
- Secondary Sector
- Gives product value
- Primary sector
- Raw materials
- Tertiary
- Serviice
- Wholesaling
- Retailing
- Serviice
- Secondary Sector
- Oppertunity cost
- Misfortune
- Every business
- Money
- Time
- Dealing with risk
- Low fear of failure
- Tolerance of ambiguity (uncertainty)
- Transforming inputs to outputs
- Identifying business oppertunities
- Generating business idea
- Observation
- Brain-storming
- Personal experience
- Innovation
- Spotting an oppertunity
- Change
- Society
- Economy
- Techniques
- Small budget research
- Geographical mapping
- Current business
- Prices
- Special deals
- Service provided
- Identify market niche
- Mapping location of competitors
- Techniques
- Small budget research
- Geographical mapping
- Current business
- Prices
- Special deals
- Service provided
- Identify market niche
- Mapping location of competitors
- Current business
- Merket mapping
- Stage 1
- Identify key characterise consumers in market
- women clothing - fashion conservative
- Identify key characterise consumers in market
- Stage 2
- Place every brand on grid
- Reveal where competition is concentrated
- =
- Gaps in the market
- =
- Reveal where competition is concentrated
- Place every brand on grid
- Stage 1
- Geographical mapping
- Small budget research
- Current business
- Merket mapping
- Stage 1
- Identify key characterise consumers in market
- women clothing - fashion conservative
- Identify key characterise consumers in market
- Stage 2
- Place every brand on grid
- Reveal where competition is concentrated
- =
- Gaps in the market
- =
- Reveal where competition is concentrated
- Place every brand on grid
- Stage 1
- Geographical mapping
- Small budget research
- Change
- Franchises
- Franchisor provides
- Trainning programme
- Sets a priice for franchise rights
- £10,000-£100,000
- System of monitoring
- Franchise dont damage rep
- Franchisee
- Pros
- Trainning
- Adertising support
- Finance is easier to gain
- Safer
- Less likely to fail
- Interest rates
- Lower
- Cons
- Pros
- Franchisor provides
- Generating business idea
- Legal structure for business
- Private limited company(Plc)
- Businesses- Limited Liability
- Incorporation creates separate legal identity
- Take legal action
- Must register
- Registrar of Companies
- Memorandum of Association
- Company Name
- Purpose
- Article of Association
- Rights of shareholders
- Frequency meeting
- Memorandum of Association
- Registrar of Companies
- PROS
- Confident to expand
- CONS
- Public Limited company(Ltd)
- Businesses- Unlimited liability
- Sole trader
- CONS
- Unlimited liability
- Owner ill/away
- Lack finance
- Sacrifice time
- PROS
- CONS
- Partnership
- PROS
- Additional skills
- More capital
- Shared srain
- CONS
- Share profit
- Loss control
- Unlimited liability
- 1890 Partnership Act
- PROS
- Assets sized by creditors
- Bankrupt
- Sole trader
- Other business organisations
- Protecting business ideas
- Copyright
- Original writting
- Books
- Song lyrics
- Automatic
- Last life time of author
- +70 years
- Sue
- Original writting
- Patent
- Stops copying IDEA
- Civil Offence
- 2 1/2 YEARS PROCESS
- Aloows MANOPOLY POWER
- Expensive
- £1-4,000
- UK alone
- Worldwide
- £50,000+
- £1-4,000
- INVENTORS
- Incentives
- Stops copying IDEA
- Tademark
- Sign distinguish goods/service of trader
- Sounds
- Pics
- Smell
- Logo
- Colours
- Words
- Registered
- Interlectual; Property Office
- Must
- Distinctive
- Original
- £1-2,000
- Sign distinguish goods/service of trader
- Interlectual property
- IP
- Goverment PROTECT this
- Ono reason to create new IP
- Goverment PROTECT this
- Assets created by humans
- Music
- Writing
- Photos
- Inventions
- IP
- Distinctiveness
- Compare with other brands
- Copyright
- Developing business plans
- Cons
- Confuse plan with reality
- Problems arise
- Plan rigid
- Less time
- Visisting suppliers
- Talking shoppeers
- Business plan contains
- Executive Summary
- Product/service
- The Market
- Markweting plan
- Organisational plan
- Finalncial plan
- Conclusion
- Pros
- Think carefully
- All aspects of start-up
- Obtain capital
- Realise lack skills
- employ expert
- buy in finance
- Think carefully
- Purpose
- Clear plan
- Obtain capital
- Sources of info + Guidance
- Goverment agencies
- BIS
- Guarantee loan
- Small firm
- Firm collapse pick up bill
- BIS
- Guarantee loan
- Small firm
- Firm collapse pick up bill
- Firm collapse pick up bill
- Extra 2% interest
- Small firm
- Guarantee loan
- BIS
- Firm collapse pick up bill
- Extra 2% interest
- Small firm
- Guarantee loan
- Local Enterprise Partnership
- Local council and local businesses
- Charged
- Advice start-up
- Local council and local businesses
- BIS
- Banks
- Plan toolkit
- Accountant
- Prince's Trust
- Works with
- Unemployed
- -30 years old
- Disadvantaged
- Unemployed
- Lend £4,000
- Regular Sessions with mentor
- Free
- High powered
- Advice INVALUABLE
- Works with
- Small business advisors
- Mentor
- Unexpected
- Expensive
- Mentor
- Goverment agencies
- Cons
- Enterprise and Entrepreneurs
Similar Business Studies resources:
Teacher recommended
Comments
No comments have yet been made