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?
- Income
- Government Regulations (correct)
- Tastes and Fashions
- Prices of complementary and substitute goods and services
What does the term "innovation" generally refer to?
What does the term "innovation" generally refer to?
- The process of improving an existing good, service, or process
- The creation of a new good, service, or process, or the improvement of an existing one (correct)
- The creation of something entirely new, like a groundbreaking invention
- The development of a new product or process based on scientific research
Which of the following is NOT a characteristic of a market?
Which of the following is NOT a characteristic of a market?
- A platform for trading goods and services
- A place where buyers and sellers interact
- A place where prices are set by a single, dominant company (correct)
- A system for buying and selling goods and services
How can Research & Development (R&D) contribute to business opportunities?
How can Research & Development (R&D) contribute to business opportunities?
How can technological development create opportunities for entrepreneurs?
How can technological development create opportunities for entrepreneurs?
Flashcards
Business Opportunity
Business Opportunity
A situation where an entrepreneur can start a new business based on market changes.
Innovation
Innovation
The process of creating new or improved goods, services, or processes.
Invention
Invention
The development of something totally new that has never existed before.
Changing Customer Needs
Changing Customer Needs
Signup and view all the flashcards
Research & Development (R&D)
Research & Development (R&D)
Signup and view all the flashcards
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
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
