AS Business Studies: Generating and Protecting Business Ideas

Hey, here are some revision notes mainly for students taking the AQA Business Studies Unit 1 exam but is relevant for other exams too. All the notes are based on the specification. I hope this helps you to revise! Please rate and comment on how to improve! :D

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  • Created on: 13-11-10 21:20
Preview of AS Business Studies: Generating and Protecting Business Ideas

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Generating and Protecting
Business Ideas

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Specification
Generating and Protecting The sources of ideas may include
Business Ideas brain-storming,
· sources of business ideas own personal experience and
· the identification of a product business experience.
or market niche The generation of business ideas
· franchises must be in relation
· copyright, patents and to a small business with limited
trademarks. resources.…read more

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Sources of Business Ideas
Business experience
­ Good way of getting insights in to what works
­ More realistic business plan
­ Less need for market research
Personal Experience
­ Day-to-day activities, interests and hobbies
­ The entrepreneur will be passionate about the idea
Observations
­ Watching closely what happens to customers (including in other markets)
­ Look for poor customer service
Brainstorming
­ No limits in what is suggested and no preconceptions on what the answer
might be
­ Encourages as many ideas as…read more

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Franchises
Franchise ­ the right given by one business to another to sell goods or services
using its name
Franchisor ­ the name given to the person or business who offers to franchise to
other businesses its trading methods, products and business logos.…read more

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Advantages and
Disadvantages for Franchisee
Advantages Disadvantages
As the products and methods of working A franchisee is not really his or her own
have been pre tested, the chance of boss. They remain under the control of
failure is lower; this in turn means that the franchiser. This can be frustrating for
banks are much more willing to lend to a an experienced business person.
new franchise start up than a new
independent business.…read more

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Advantages and
Disadvantages for Franchisor
Advantages Disadvantages
Franchiser would receive cash from each If the franchise is run badly it will damage
franchisee and often a share of the the franchiser's name. This may harm the
profits. It will also receive a share of all sales of other franchises and reduce the
future sales amount of money a franchisor will make.…read more

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Intellectual Property (IP)
An entrepreneur will want to protect an idea in order to recover the costs of
bringing that idea to the market. Businesses often protect their products,
processes and images through Copyrights, Patents and Trademarks. The existence
of this protection means that businesses are more willing to invest because they
know their efforts will be protected long enough to recover some of the money
invested.…read more

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Copyrights, Patents and
Trademarks
Copyright = the protection given to books, plays, films and music.
Most uses of copyright material require permission from the copyright owner.
However some minor uses may not infringe copyright. Copyright protection is
automatic as soon as there is a record in any form of the material that has been
created, and there is no official registration or form or fee.…read more

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