Business Outcome 1 Flashcards
satisfy need/want idea/plan service/product target market (12 cards)
Business Concept Development
Business_ Satisfy need/want
Concept_ Idea/Plan
Development_ Service/ Product and Target Market
Social Goal
Social_ benefit community/local workers
Goals_ Objectives
Personal Motivation
the desire for independence
to make a profit
to fulfill a market need
to fulfill a social need
Range Of Goals
short term (immediate / frontline) mid term (tactical) long term (strategic)
Business Opportunity
market opportunity Research and Development Innovation and Entrepreneurship Global Market Technological Development Changing Customer Needs
Market Research
Primary Research ( personal collection / survey) Secondary Research ( online source, SENSUS, ABS)
Corporate Social Responsibility
Corporate_ Business
Social_ Producers, Consumers, Sellers, Enviornment
Responsibility_ Fair Trade, Fair Work, Fair Environment
Assets
Items of value from business
Share Holders
members of owners of company
Research And Development
Improve or create produce/idea for company
Entrepreneur
Take calculated risk, Manages business activities, seek out opportunities, Experience Success
Business
To make profit
Goods And Services
