Business opportunity - JSS2 Business studies Past Questions and Answers - page 1
What are the elements that make up a business opportunity?
Supply and demand
Feasibility and scalability
Innovation and creativity
Which type of business opportunity targets a specific local area?
National
International
Local
What is a characteristic of national business opportunities?
They target a specific local area
They involve expanding beyond national borders
They require strategies to reach a wider audience within a country
Which type of business opportunity involves serving customers in multiple countries or regions
Local
Local
International
What is a common element among all types of business opportunities?
Targeting a specific local area
Potential for growth and expansion
Limited market potential
Can you name two elements that make up a business opportunity?
Market potential and competitive advantage.
Can you name two elements that make up a business opportunity?
Market potential and competitive advantage.
What distinguishes a local business opportunity from national and international ones? Answer
Local business opportunities target a specific local area, catering to the immediate needs and preferences of the community.
How might an entrepreneur assess the feasibility of a business opportunity?
Entrepreneurs might assess feasibility by considering factors such as resource requirements, potential risks, regulatory constraints, and the ability to generate profit.
What are some challenges associated with international business opportunities?
Challenges could include cultural differences, regulatory complexities, and logistical considerations related to operating in multiple countries or regions.