1B Cards part 1

Question 1

Innovation

Answer 1

Innovation is creating and implementing new ideas or significantly improving existing goods, services or a way of doing something.

Question 2

Business Opportunity

Answer 2

A business opportunity is a favourable situation which can lead to advancement or success.

Question 3

Entrepreneurship

Answer 3

Entrepreneurship is taking a risk to develop, start and manage a profitable business.

Question 4

Market opportunity

Answer 4

Market opportunity is a need or want that is not currently being met by any business.

Question 5

Changing Customer Needs

Answer 5

Changing customer needs are the transitions in the desires of consumers.

Question 6

Ethical behaviour

Answer 6

Ethical behaviour production is making goods and services in a way that avoids harming people or the environment.

Question 7

Sources of business opportunity

Answer 7

. Innovation
.Entrepreneurship
.Market opportunities
.Changing customer needs