The dynamic nature of a business

• Enterprise


  • process of identifying new business oppurtunties and then taking advantage of them.
• Entrepreneur

  • someone who creates a business, taking financial risks with the aim of making profit from the business
• Consumer

  • Someone who buys and uses goods and services
• Obsolete

  • out of date or not used anymore
• Why do new business idea come about?

  • New business usually arise because of changes in society and consumer trends
  • entrepreneurs look to identify these changes which help to indicate opportunities for the business
• How can changes in technology provide business opportunities?

  • making expensive technology affordable
  • e-commerce and mobile commerce
  • social media
• E-commerce

  • using the internet to carry out business transactions
• M-commerce

  • using mobile technologies, such as smartphones and tablets to carry out business transactions
• How can entrepreneurs come up with new business ideas?

  • adapt an existing product or service to keep up with changes in consumer trends
  • create a completely original product or service to satisfy a new or previousLy unknown customer trend