Chapter 4- entrepreneurs Flashcards
1
Q
What do entrepreneurs do?
A
Competition Creative destruction Innovation Economic growth Structural change Adaptation Disrupters Adding value
2
Q
Added value is
A
The difference between what a business pays it’s suppliers and the price it is able to charge for its product or service
Value added= selling price-cost price
3
Q
How can value be added?
A
Packaging Branding Convenience Presentation Customer service Quality USP
