Zusammenfassung der Ressource
Business Studies: Showing Enterprise.
- What is enterprise?
- Enterprise: The skill involved in
wanting to start and run a
business.
- Difference between a good and a service:
- A good is a physical product such as a burger or car.
- A service is a non-physical item like a
haircut or legal advice from a solicitor.
- Key characteristics of enterprise:
- Take risks: setting up a new business is risky. Even if the
entrepreneur has carefully researched the market there is
always a chance that customers may reject the product.
- Show initative: and make things happen. Successful
entrepreneurs have the drive, determination and energy to
overcome hurdles and lauch businesses no matter what.
- undertake new ventures: An entrepreneur has the
imagination to spot business opportunities and then launch
new or improved products that fill gaps in the market.
- Thinking Creatively
- What is creative thinking? Creative
thinking is the process by which
individuals come up with new ideas or
approaches to business which have not
been tried before.
- Explain competitive advantage. A competitive adavantage means
being able to offer a product which costumers prefer to rivals because
of better quality, appearance, functions or price.
- Are our creative thinking and
competitive advantage linked? Coming
up with fresh ideas to make new or
better products helps make items stand
out in the market place.
- Give examples of new ideas. New ideas
can focus on a new product, e.g the
nintendo wii, or a new process that cuts
costs or improves quality, for example,
the dyson vacuum cleaner.
- list some creative thinking methods. New ideas can be
generated through lateral thinking, deliberate creativity,
blue sky thinking and asking the right questions.
- What is lateral thinking? producing ideas
by looking at a problem from many angles.
- Give an example of lateral thnking. Thinking
out side the box can involve breaking down
a simple task life serving coffee in a cafe to
see if a better production process can be
created.
- Explain deliberate creativity. Deliberate creativity is the
intentional creation of new ideas by using a range of thinking
techniques e.g blue skies and thinking hats.
- what is blue skies thinking? Blue skies thinking is when entrepreneurs try to see a problem with 'fresh eyes'. old ways of
doing things are ignored. instead a brainstorming session is held where everyone is free to make any suggestions and no
idea is rejected out of hand as silly.
- What is the six thinking hats? Six thinking hats is a tool to create new ideas and approaches.
- How do thinking hats work? a group divides up inot sections each taking on a thinking hat...
- White hat thinking - asks what are the facts
- Red hat thinking - asks about feelings and emotions
- Black hat thinking - asks about problems and challenges with the issue being discussed
- Yellow hat thinking - tries to come up with benefits and opportunities.
- Green hat thinking - attempts lateral thinking outside the box eg what if?
- Blue hat thinking - is thinking about thinking and is done by the group leader.
- Asking the right questions
- Why are questions important? Asking
questions helps individuals identify issues
and options
- list questions
entrepreneurs often
ask. Part of the
process of thinking
creativitely is to ask
the right questions for
example, why ,why
not, how, where, when
, what, what if?
- Give examples of why, why not, etc
questions. Hairdresser might ask:
- Why do i sell an extensive range of shampoo
- Why not open on sunday?
- What staff do we need to hire to open for longer hours?
- How am i going to recruit new staff?
- Where will we locate a new branch?
- What if the economy slows down and moves into recession?
- Why are 'what if' questions
particularly important? What if
questions help firms look beyond
the obvious and consider best and
worst case situations and how
they might respond.
- how do entrepreneurs use the questioning process? The questioning process identifies
issues and options. By asking the right questions the entrepreneur can identify the
costs and benefits of a particular option and come to an informed decision. Do rewards
outweigh risks?
- Invention and innovation
- How do new business ideas come
about? new ideas can be identified
by individuals who:
- use existing products and see how items can be improved
- design or produce products and can recognise potential developments
- working research and development departments
- Distinguish between invention and innovation
- invention discovers new products or new ways of making items
- Innovation transforms new ideas into products that canbe
sold to customers.
- How can an entrepreneur protect a business idea? by using the law
- If a firm registers a patent for an invention it can sue anyone who copies their invention
- Rivals copying work
without permission
break copyright law
and can be sued
- Why is legal protection on inventions important?
- Invention and innovation are expensive and risky
activities. Giving inventors legal protection for
original ideas prevents copycats. Legal protection
rewards and so encourages innovation and
invention.
- What is a patent?
- entrepreneurs
register ownership of
an invention or new
process with the
government and are
given a patent to stop
copying of the idea for
say, the next 20 years.
- Explain copyright. Business ideas are
protected by copyrihgt laws. firms can
sue anyone ho copies their idea, eg a
business name, without permission or
payment.
- Important enterprise skills
- List some of the skills entrepreneurs need for success.
Typically entrepreneurs are:
- Imaginative: they can make connections, see new
business opportunities where others do not and spot
gaps in the market
- Planners who take time to research customer
requirements, competitors and market trends to better
understand their market place and so minimise the risk
of failure.
- have the drive and determination to succeed no matter
how many hours of unpaid preparation are involved or
unforeseen setbacks appear.
- What is business planning?
- An entrepreneur thinks ahead and works out what to
do in the future to make and sell products that meet
customer needs in a competitive market.