Business ideas (Sources of ideas & SWOT analysis)

What is an internal source of business idea?

• An idea that comes from inside the business

• An idea that comes from outside the business

What is an external source of business idea?

• An idea that comes from inside the business

• An idea that comes from outside the business

What are examples of internal sources of business ideas?

• Brainstorm, skills and hobbies, employee suggestion

• Family and friends, competitor, customer feedback

What are examples of external sources of business ideas?

• Brainstorm, skills and hobbies, employee suggestion

• Family and friends, competitor, customer feedback

Huda Kattan started Huda Beauty because she has a passion for makeup. What is the source of her business idea?

• Skills and hobbies

• Competitors

Apple released the iPhone in 2007. 2 years later, in 2009 Samung released the Galaxy S. What is the source of business idea for Samsung's Galaxy S?

• Family and friends

• Competitors

What does SWOT stand for?

• Social media, warranty, technology, operations,

• Strengths, weaknesses, opportunities, threats

In SWOT analysis, what is the meaning of Strength?

• Things a business does badly or that can cause problems.

• Things a business owns or does well that increase its chance of success.

In SWOT analysis, what is the meaning of Weaknesses?

• Things a business owns or does well that increase its chance of success.

• Things a business does badly or that can cause problems.

In SWOT analysis, what is the meaning of Opportunities?

• External factors that can prevent a business from succeeding.

• External factors that a business can use for its benefit.