Buisness Flashcards

1
Q

Dynamic

A

Changing all the time

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2
Q

Entrepreneur

A

Someone who creates or owns their own business

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3
Q

E-commerce

A

Online through technology shopping paying online

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4
Q

Consumer

A

People who buy off buisness

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5
Q

Obsolete

A

Some thing that is not useful anymore

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6
Q

Profit

A

Where revenue exceeds costs over a period of time

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7
Q

Cash flow

A

Money coming in and out from the business

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8
Q

Stake holder

A

Anyone with an interest to the business

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9
Q

Enterprise

A

Is a buisness

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10
Q

Adding value

A

Making it stand out

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11
Q

USP

A

Unique selling points

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12
Q

Production

A

Process of making production

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13
Q

Supplier

A

Someone who supplies other buisness

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14
Q

What is a reward of starting your own business

A

Profit,independence,buisness success

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15
Q

What is a risk of starting your own business

A

Business failure,financial loss,lack of security

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16
Q

What are 3 ways new ideas come about

A

Consumer demand,gap in the market,or originally idea

17
Q

Why do buisness ideas come about

A

Gap in the market,product adapted and approved,product or services becoming obsolete

18
Q

1 role of a buisness

A

To supply customers demands /needs

19
Q

The difficulty to add value

A

Someone can copy your unique selling point,hard to find gap in the market becomes competitors are selling cheaper or better quality in the market