b4

Question 1

retraining and updating skills

Answer 1

updates job skills leading to increased career development opportunities

Question 1

coping with unemplyment

Answer 1

-falling back on savings
-seeking financial support from close individuals

Question 2

Personal development

Answer 2

empowers an individual. It helps make an individual more confident, happier,
motivated and productive.

Development in these field helps the individual in their
personal life but also carries over into their working life/career

Question 3

Professional development

Answer 3

learning new skills and practices,
at any stage in your career

Question 4

international business links

Answer 4

connections between individuals or groups that benefit both parties either in the promotion of their own business or increasing its ability to function. Made possible via advances in information and communication technology allowing businesses to easily communicate between each other, eg social media.

Question 5

consumer gaps

Answer 5

Something consumers want that is unavailable to them on the market, or does not meet their expectations.

Question 6

How can consmer gaps be identified

Answer 6

listening to consumer demands, trends
predicting where demand is likely to be
closely watching competitors to see what they miss.

Question 7

Using technology

Answer 7

Technology can be used as a promotional tool or a networking tool. Additionally sellers can sell or provide products or services online

Question 8

Steps in problem solving

Answer 8

Indentifying the problem
Applying a decision-making process such as SWOT
Creating an action plan to execute solution

Question 9

SWOT

Answer 9

Strength, weaknesses opportunities and threats

Question 10

Action plan

Answer 10

1) Find specific tasks
2) Time allocation
3) Resource allocation