Entrepreneurship & Business Management at TVET Colleges | Flashcards & Summaries

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Lernmaterialien für Entrepreneurship & Business management an der TVET colleges

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Protecting ideas
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  • Secrecy
  • Patents 
  • Trademarks
  • Copyright 
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Characteristics of a business opportunity 
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  • There is a market willing to pay for the product/service
  • It is profitable 
  • It generates an on-going incom
  • It is proven
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A winning idea
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  • will make money and in a few years time
  • sounds good to both your friends and strangers
  • is easy to market or promote 
  • you will make money even if your sales are down
  • is legal

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The importance of innovation and creativity
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Creativity is the ability that helps us to do something new an different. Creativity also refers to the ability to do the same thing in a new way.
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Needs
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  • Self actualisation 
  • Status and self esteem needs
  • Social needs
  • Security and safety needs
  • Physiological needs
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Generic needs 
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A generic need refers to a group of consumers that share a broad need for a product/service. For example, all humans need food.
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Characteristics of a business idea
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  • There is no profit generated from an idea
  • You cannot sell an idea, it does not have value
  • It is unproven
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Creative methods
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  • Reverse methods
  • Attribute analysis 
  • Problem redefinition 
  • Forced connections 
  • Mind-mapping 
  • Metaphorical anology

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Explain the difference between an idea and an opportunity 
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A good business idea is your first step in starting your own business. You need to know what you sell or what kind of service you will provide. However, not all business ideas are good business opportunities.
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Idea generation 
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It is the creative process of generating, planning and concrete of visual ideas.
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Innovation
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You often hear about someone who came up with a brilliant idea of something completely new. Innovation means to develop a new and unique product or service.
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Flea markets 
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Flea markets are always good places to visit and often the starting point for new entrepreneurs.
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  • 1022 Karteikarten
  • 1487 Studierende
  • 14 Lernmaterialien

Beispielhafte Karteikarten für deinen Entrepreneurship & Business management Kurs an der TVET colleges - von Kommilitonen auf StudySmarter erstellt!

Q:
Protecting ideas
A:
  • Secrecy
  • Patents 
  • Trademarks
  • Copyright 
Q:
Characteristics of a business opportunity 
A:
  • There is a market willing to pay for the product/service
  • It is profitable 
  • It generates an on-going incom
  • It is proven
Q:
A winning idea
A:
  • will make money and in a few years time
  • sounds good to both your friends and strangers
  • is easy to market or promote 
  • you will make money even if your sales are down
  • is legal

Q:
The importance of innovation and creativity
A:
Creativity is the ability that helps us to do something new an different. Creativity also refers to the ability to do the same thing in a new way.
Q:
Needs
A:
  • Self actualisation 
  • Status and self esteem needs
  • Social needs
  • Security and safety needs
  • Physiological needs
Mehr Karteikarten anzeigen
Q:
Generic needs 
A:
A generic need refers to a group of consumers that share a broad need for a product/service. For example, all humans need food.
Q:
Characteristics of a business idea
A:
  • There is no profit generated from an idea
  • You cannot sell an idea, it does not have value
  • It is unproven
Q:
Creative methods
A:
  • Reverse methods
  • Attribute analysis 
  • Problem redefinition 
  • Forced connections 
  • Mind-mapping 
  • Metaphorical anology

Q:
Explain the difference between an idea and an opportunity 
A:
A good business idea is your first step in starting your own business. You need to know what you sell or what kind of service you will provide. However, not all business ideas are good business opportunities.
Q:
Idea generation 
A:
It is the creative process of generating, planning and concrete of visual ideas.
Q:
Innovation
A:
You often hear about someone who came up with a brilliant idea of something completely new. Innovation means to develop a new and unique product or service.
Q:
Flea markets 
A:
Flea markets are always good places to visit and often the starting point for new entrepreneurs.
Entrepreneurship & Business management

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