Podcast
Questions and Answers
Which of the following is NOT a factor that contributes to changing customer needs?
Which of the following is NOT a factor that contributes to changing customer needs?
What does the term "innovation" generally refer to?
What does the term "innovation" generally refer to?
Which of the following is NOT a characteristic of a market?
Which of the following is NOT a characteristic of a market?
How can Research & Development (R&D) contribute to business opportunities?
How can Research & Development (R&D) contribute to business opportunities?
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How can technological development create opportunities for entrepreneurs?
How can technological development create opportunities for entrepreneurs?
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Study Notes
Sources of Business Opportunity
- Business opportunities arise from various factors.
- Innovation generally involves creating new or improved goods, services, or processes.
- Invention creates something completely new and unique.
- Entrepreneurs are individuals who start, run, and build a business, taking on risks.
What is a "Business Opportunity"? - Market Opportunities
- Markets are places where buyers and sellers trade goods and services.
- Changes, inefficiencies, or gaps in the market present opportunities.
- Market opportunities are influenced by factors like:
- Income
- Tastes and fashions
- Prices of complementary goods/services
- Population
- Future prices and incomes
- Number of potential customers
What is a "Business Opportunity"? - Research & Development
Research and development (R&D) expands knowledge about products/processes.
- Businesses/individuals conduct R&D to create/improve products and processes.
- R&D data improves existing products, introduces new products, or leads to technological advancements.
What is a "Business Opportunity"? - Technological Development
- Technological development creates new products/processes for business ideas.
- Knowledge of technological development influences business operations.
- Applications of this knowledge change operational methods.
What is a "Business Opportunity"? - Global Markets
- Global marketplaces allow exchange of goods/services across the world.
- Businesses can expand operations and reduce reliance on local markets.
- Global markets provide opportunities for product lifecycles to last longer.
- Global markets reduce fluctuations in local market conditions.
Personal Motivation Behind Starting a Business
- Business success/failure depends on owner skills and factors like:
- Abilities
- Resources
- Enthusiasm（熱量）
- Initiative(主導権）
- Expertise in management（経営に関する専門知識）
- Decision-making skills
- Motivation
Possible Motivations
- Desire for independence(独立）
- Profit maximization
- Filling market needs
- Fulfilling social needs
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Description
This quiz explores the various sources of business opportunities, including innovation, invention, and market dynamics. Understand how changes in the market and research and development can create new avenues for entrepreneurship. Test your knowledge on how entrepreneurs identify and leverage opportunities for business growth.
