Flashcards in 1.1.1 - The Dynamic Nature of Business Deck (20)
entrepreneurial activity (can also mean business or company)
Entrepreneur: someone who creates a business, taking on financial risks with the aim of making a profit from the business
someone who buys and uses goods and services
Out of date or not used anymore
using the internet to carry out business transactions
M-Commerce: using mobile technologies, such as smartphones and tablets, to carry out business transactions
websites that allow users to interact with other users, by sharing text based messages, pictures or links to online content
Enable businesses to take online payments from customers. They are usually free for the customer to use, but take a small amount of commission from the seller.
The activities involved in buying and selling services, in competition with other companies
information, particularly statistics that can be collected and analysed
relating to the population, such as average age, average income and so on
The products or services people need to make life comfortable
Want: What people choose to spend money on , once the weekly bills have been paid (rent, water, food)
Good: Products that may be fresh, such as apples, or manufactured, such as Heinz beans. They are tangible.
Service: Providing useful ways to help people live their lives, for example shops, restaurants and hospitals.
Risk capital provided by an investor willing to take a risk in return for a share in any later profits; the venture capital
The number of units that customers want – and can afford – to buy
Adapted Products: Finding new products based on the original one, such as Wall’s White Chocolate Magnum
Ideas that have not been done before