Theme 1 Topic 1.1 & 1.2

Imagine you're a budding entrepreneur, ready to dive into the world of business. But wait! You're worried that your new venture might not bring in enough dough to keep up with your current lifestyle. Can you identify what kind of risk this is?

• Not being able to reach the break-even point

• Feeling a bit shaky on the security front

• Fearing the big 'F' - Business Failure

• Worried about losing your independence

Imagine Sara, a fitness enthusiast, who decided to leap into the world of entrepreneurship as a personal trainer. Can you guess the primary motivation behind her business idea?

• Is it to fill her pockets with more money?

• Or, is it to follow her passion and interest?

• Maybe, to be the captain of her own ship?

• Or, to enjoy the flexibility of working hours?

Imagine a world where consumers are more concerned about the environment than ever before! This has sparked a wave of innovative start-ups, creating products from recycled materials. Can you guess why these eco-friendly business ideas are popping up?

• Is it because certain services have become obsolete?

• Or maybe some products have become obsolete?

• Could it be due to changes in consumer demand?

• Or is it because of fluctuations in the interest rate?

Imagine you're on a treasure hunt! Which of these options would best describe the 'reward' you're seeking?

• The probability that something will go wrong

• The chance of loss or damage

• When a hoped for outcome does not happen

• The benefits gained through business activity

Imagine you're an entrepreneur who has just invented a one-of-a-kind product to shake up the market! Can you tell us how this brilliant business idea was born?

• An original idea

• Adapting an existing product

• Adapting an existing service

• Adapting an existing idea

Imagine you're an entrepreneur ready to start a new business. What could be a financial motivation for you to take this exciting step?

• To fill your pockets with lots of profit

• To follow your passion or interest

• To enjoy the freedom of making your own decisions

• To strike a perfect balance between work and life

Imagine you're in a bustling marketplace! Can you tell us what it means when a product becomes 'obsolete'? Is it when consumers:

• Can't get enough of a product and demand skyrockets?

• Feel like they've hit the jackpot and want to buy everything in sight?

• Have to tighten their belts and can't afford a certain product anymore?

• Decide they're over a product and don't want it anymore?

Imagine you're a business tycoon! But, oh no! Your business is failing due to lack of planning and poor decision-making. What would you call this situation?

• Oops! It's Poor management

• Oh dear! It's Poor quality

• Yikes! It's Poor understanding of the economy

• Uh-oh! It's Poor sales levels

Imagine you're an entrepreneur who has just created a magical shaving oil for those with sensitive skin, making their shaving experience pain-free! This brilliant idea is an example of:

• A lightning-fast development and delivery to the market

• A superhero solution to a customer's problem

• A budget-friendly alternative to an existing method

• Aiming for the stars in a rapidly expanding market

Imagine you're a hotshot product manager! Your product or service is considered obsolete when its sales:

• Start to skyrocket like a space shuttle!

• Rise rapidly like a roller coaster!

• Growth slows down like a lazy Sunday afternoon

• Fall or come to an end like the final curtain at a Broadway show