Why new business ideas emerge
Why new business ideas emerge
New business ideas often come from technological change or changes in consumer wants. Both are external drivers because they happen outside the business and cannot be controlled by an entrepreneur.
Step-by-step lessons on Edexcel GCSE Business 1.1 Enterprise and entrepreneurship, covering 1.1.1a Why new business ideas come about: technology and consumers, 1.1.1b Why new business ideas come about: obsolescence, 1.1.1c How new business ideas come about, 1.1.2a Risk in business activity, 1.1.2b Reward in business activity, 1.1.3a The role and purpose of business activity, 1.1.3b Adding value, and 1.1.3c The role of entrepreneurship. Each one builds up to exam-style questions. Start by mastering business terminology and the functional areas (marketing, finance, operations, HR) before moving on to the extended, evaluation-heavy questions that carry the most marks.