Yr 11 Business 2

What does the term 'business opportunity' mean?

• You made it up

• The feasibility of an entrepreneur persuing a business idea

• The opportunity a business has

Select which options are potential challenges for a seed stage business

• Atrracting customers

• All of these are challenges for seed stage businesess

• Legal issues

• Resources and funding

Which of these defines incremental innovation theory

• Innovation that occurs over time in small improvements

• Reassembling the components of a product to introduce to a new market

• Occurs when a smaller business with fewer resources successfully challenges an established business

• Involves harnessing new technology and a new business model

Which of these defines architectural innovation theory

• Innovation that occurs over time in small improvements

• Reassembling the components of a product to introduce to a new market

• Occurs when a smaller business with fewer resources successfully challenges an established business

• Involves harnessing new technology and a new business model

Which of these defines disruptive innovation theory

• Innovation that occurs over time in small improvements

• Reassembling the components of a product to introduce to a new market

• Occurs when a smaller business with fewer resources successfully challenges an established business

• Involves harnessing new technology and a new business model

Which of these defines radical innovation theory

• Innovation that occurs over time in small improvements

• Reassembling the components of a product to introduce to a new market

• Occurs when a smaller business with fewer resources successfully challenges an established business

• Involves harnessing new technology and a new business model

Which of these could a business use to complete a competitor analysis?

• SWOT analysis

• PEST analysis

• Cost-benefit analysis

• Break-even analysis

Which of these could a business use to evaluate the viability of a business idea?

• PEST analysis

• Cost-benefit analysis

• Break-even analysis

• SWOT analysis