VCE Business Management Unit 1 AOS 1 Revision 0.0 / 5 ? Business StudiesPlanning a BusinessOtherAll boards Created by: spersephoneCreated on: 07-02-20 02:55 Having superior ability over competitors Competitive advantage 1 of 10 A sub-section of consumers who can be identified as having similar education level, age or religion Demographic 2 of 10 A person who takes on the financial risk and uncertainty of starting a new business Entrepreneur 3 of 10 The improvement of a product, system or process of doing something Innovation 4 of 10 An amount received expressed as a percentage of the original value of an investment Return on investment 5 of 10 An idea for a new endeavour, that incorporates initial information about a product, its target market and likely competitive advantage Business concept 6 of 10 The long term overarching visions that a business aspires to achieve Business goals 7 of 10 The aims or targets a business works towards in order to achieve the overall goals Business objectives 8 of 10 Initial investigation into a business or product concept to explore how likely it is to succeed Feasibility study 9 of 10 All people who have an interest in a business's activities and who may be impacted by them Stakeholders 10 of 10
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