ADVANCES IN TECHNOLOGY, CHANGES IN WHAT CONSUMERS WANT AND PRODUCTS OR SERVICES BECOMING OBSOLETE.
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HOW DO NEW BUSINESS IDEAS COME ABOUT?
BY ADAPTING AN EXISTING PRODUCT/SERVICE TO KEEP UP WITH CHANGES INCONSUMER TRENDS OR CREATING A COMPLETELY ORIGIONAL PRODUCT/SERVICE TO SATISFY A NEW OR PREVIOUSLY UNKNOWN CUSTOMER TREND
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WHAT ARE SOME RISKS TO BEING AN ENTREPRENEUR
BUSINESS FAILURE, FINANCIAL LOSS AND LACK OF SECURITY
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WHAT ARE SOME REWARDS TO BEING AN ENTREPRENEUR
BUSINESS SUCCESS, PROFIT AND INDEPENDENCE
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WHAT IS THE PURPOSE OF BUSINESS ACTIVITY?
TO PRODUCE GOODS OR SERVICES, TO MEET CUSTOMER NEEDS AND TO ADD VALUE
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HOW DO YOU ADD VALUE TO A PRODUCT?
BRANDING, CONVENIENCY, QUALITY/DESIGN AND A UNIQUE SELLING POINT (USP)
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WHAT IS THE ROLE OF AN ENTREPRENEUR?
ORGANISING RESOURCES
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Other cards in this set
Card 2
Front
HOW DO NEW BUSINESS IDEAS COME ABOUT?
Back
BY ADAPTING AN EXISTING PRODUCT/SERVICE TO KEEP UP WITH CHANGES INCONSUMER TRENDS OR CREATING A COMPLETELY ORIGIONAL PRODUCT/SERVICE TO SATISFY A NEW OR PREVIOUSLY UNKNOWN CUSTOMER TREND
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