Types of Businesses
What is an online business? (Behroz)
A) A business that relies on foot traffic.
B) A business that has a webpage.
C) A business that operates on the internet to sell products or services.
C) A business that operates on the internet to sell products or services.
What are the three key steps in the market research process? (Tina Ly)
What does SWOT stand for?
Strengths, weaknesses, opportunities, threats
What are 3 characteristics of a successful business manager below? (Mr Buckley)
A) Are self-disciplined enough to start and follow
through with long-term projects
B) Can persistent and healthy enough to withstand
extra workload, stress & issues that arise
C) Stay strong and consistent despite feedback.
D) Can lead by managing & motivating others
A) Are self-disciplined enough to start and follow
through with long-term projects
B) Can persistent and healthy enough to withstand
extra workload, stress & issues that arise
C) Can lead by managing & motivating others
What is innovation?
The process of bringing in new ideas.
What is an exporter? (Ali)
Someone who sends goods out of the country of manufacture to be sold in another country/countries.
What are the main components of a business plan?
A) SWOT Analysis / Financial Plan / Marketing Plan
B) Executive Summary / Operations Plan /Financial Plan / Marketing Plan:
C) SWOT / Operations Plan /Financial Plan / Marketing Plan:
D)Executive Summary / SWOT /Financial Plan / Marketing Plan:
Executive Summary / Operations Plan /Financial Plan / Marketing Plan:
What are three parts of a business concept? (Kiebron)
Value proposition
Target market
Revenue Model
What is an importer? (Mandy)
They bring in goods from another country to sell in a different market.
Give two examples of labour resources? (Mhikaella)
Quality and skill level
Training
Access
Give a benefit of importing and a benefit of exporting? (Afi)
Exporting: Opens up new markets and reduces dependence.
Importing: Can cost less to produce imported goods than in local market.
What are two types of companies? (Moram)
Proprietary, Public, or Private