GCSE Business Homework: 1.1.1 Dynamic nature of business

Why are new business ideas needed?

• Changes in technology

• Changes in customers

• Changes in business

• Changes in competitors

Changes in technology could make products less popular, outdated or obsolete. Rearrange these images to illustrate this idea.

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Customer ______ can change e.g. a trend for healthier eating which results in lower sales of crisps but higher sales of pop-corn.

​ (a)   can make changes so you need to keep up with them. For example​ (b)   stopped serving in-flight meals in ​ (c)   to compete with ​ (d)   such as ​ (e)   .

• British Airways
• economy
• competitors
• budget airlines
• EasyJet

How do new business ideas happen? Match the product with trigger.

• Accidental Discovery

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• Solving Problems

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• Invention

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• Innovation

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