CrtBussStartUp U1: Initial Steps for a Business Start-up - D1

From where might a business idea come?

• Personal experience

• Random chance

• Government policies

• Market trends

What might indicate a business idea for leisure pursuits?

• People retiring earlier but living longer

• A rise in fast food consumption

• An increase in online shopping

• A decrease in travel

What should you consider about the business environment?

• If it is competitive

• If there is a recession

• If it is trendy

• If it is easy to enter

What happens to the demand for luxury goods when interest rates are lower and wages are higher?

• Demand decreases

• Demand remains the same

• Demand increases

• Demand disappears

What is an example of a service?

• Buying a pen

• Window cleaning

• Purchasing a mobile phone

• Buying a book

Which skill is crucial for a manager to ensure tasks are completed on time?

• Vision

• Time management

• Innovation

• Communication

Which skill helps an entrepreneur manage risk-taking in business?

• Communication

• Attention to detail

• Ability to manage risk-taking

• Record-keeping

What skill is necessary for an entrepreneur to communicate ideas to others?

• Communication

• Problem-solving

• Organisation

• Record-keeping

What is a crucial skill for a manager to manage the business finances?

• Financial knowledge

• Creativity

• Persuasion

• Risk-taking

Which skill is necessary for promoting the business?

• Sales skills

• Baking skills

• Record-keeping skills

• Innovation skills