ict 4th q

• Reinforced


  To strengthen by additional assistance, material, or support to make it stronger
• Financial


  Refers to money matters or transactions of some size or importance
• Corporate


  Formed into an association and endowed by law with the rights and liabilities of an individual
• Services


  Essentially intangible activities which are separately identifiable and provide satisfaction of wants. Their purchase does not result in the ownership of anything physical
• Resources


  An action or strategy which may be adopted in adverse circumstances
• Sustainable


  The ability to maintain or support a process over time
• Flexible


  Able to change or be changed easily according to the situation
• Scalability


  The ability of an organization (or a system, such as a computer network) to perform well under an increased or expanding workload
• Profitability


  A measure of an organization's profit relative to its expenses
• Product


  Something that is produced as a result of making something happens as a result
• Acronyms


  • TLE - Technology Livelihood Education
  • ICT - Information and Communication Technology
  • PEC's - Personal Entrepreneurial Competencies
  • CSS - Computer System Servicing
• Generating Ideas for Business


  1. The process of developing and generating a business idea is not a simple process

  2. Some people come up with a bunch of business ideas that are not really feasible
• Considerations Used to Generate Possible Ideas for Business

  • Examine existing goods and services
  • Examine the present and future needs
  • Examine how the needs are being satisfied
  • Examine the available resources
• Criteria and Steps in selecting a business idea

  • Profitable
  • Competitive
  • Good cash flow
  • Innovative
  • Sustainable
  • Environmentally sound
  • Legal
  • Branded
  • Difficult to copy
  • Socially responsible
  • The WOW factor
  • Supports decent family living
  • Flexible
• 7 easy steps to follow and determine a successful business idea to start

  1. Brainstorm various ideas

  2. Make a business plan

  3. Look out for funds

  4. Analyze market demand

  5. Test your business idea

  6. Prioritize scalability

  7. Consider profitability