Someone who invests money into a business. This may be a business thats already established, or a business that they're starting.
1 of 19
What are customers?
People or orginisations that buy products and services.
2 of 19
What are some successful entrepreneur skills?
Creative, good speaker, confident, organised, persuasive, experience, presentable, good ideas, patience, hard working, reliable, friendly, good with money, polite, persisstant.
3 of 19
What are the rewards of being an entrepreneur?
Profit, lots of customer, success, achievement, meet new people, new skills, self confidence, respect, in control.
4 of 19
What are the risks of being an entrepreneur?
Loose money, knock confidence, bad reputation, lose reliable income, lose friends and family.
5 of 19
Where do people get inspiration for business ideas?
Family members, gap in the market, niche market, accident, research, own intrest, a trend.
6 of 19
What is demand?
The amount of people willing to by a product or service.
7 of 19
What's a gap in the market?
An opportunity to launch a product or service that is not currently available or done before.
8 of 19
What's a niche market?
A small specialised market that have enough customers to keep the business successful. Such as disabled products, elderly, allergy products.
9 of 19
What is market research?
Gathering information about customers, competitors and market trends.
10 of 19
What is a prototype?
A model of a product that a business is considering releasing that can be tested on potential customers.
11 of 19
What are business objectives?
A target or aim that is set for a business to achieve.
12 of 19
For example?
Achieve a certain amount of money, have the product be sold in a lot of stores, keep the business running, expand to new stores/areas, no faulty products.
13 of 19
What is market share?
The percentage of sales the company has of the total sales in that market.
14 of 19
What are business ethics?
Making decisions which are morally right and not neccessarily finiancially right.
15 of 19
Why does a business set objectives?
It provides a focus for employees in the business so that they know what they should be working towards. 2. It allows an entrepreneur to monitor how well their business is performig by checking if they are meeting their objectives.
16 of 19
What are factors that can lead to a businesses closure?
In a lot of debt, not made enough profit, not enough customers, didn't do enough advertisement, nobody wants product, quality is poor, price wrong, haven't kept track of their money, lack organisation, not knowing the customers.
17 of 19
What is a stakeholder?
An individual or group affected in some way by a businessm or with an intrest in its activites.
Comments
No comments have yet been made