As business studies generating business ideas
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Transcript of As business studies generating business ideas
AS BusinessGenerating and Protecting business
ideas
Have you bought your book yet?
Deadline: Friday 13th September
So, you want to set up your own business?
What do we call you?
What qualities do you need to have?
Objectives• Understand and explain
how entrepreneurs identify and exploit a market niche
• Understand the main sources of ideas for new business start-ups
• Examine the role of patents, copyrights and trademarks as methods of protecting business ideas
So, you want to set up your own business?
Where can you get an idea from?
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What’s the best way to start a new business?
Stick with what you know?
orLook for a gap in the
market?
Advantages and DisadvantagesAdvantage Benefits Disadvantages
Knowing the product or service
Spotting a gap in the market
Objectives• Understand and explain
how entrepreneurs identify and exploit a market niche
• Understand the main sources of ideas for new business start-ups
• Examine the role of patents, copyrights and trademarks as methods of protecting business ideas
Initial Research
• Maps• Demographic Data• Look at competition• Gaps in the market?• Primary research• Identify market
segments
Objectives• Understand and explain
how entrepreneurs identify and exploit a market niche
• Understand the main sources of ideas for new business start-ups
• Examine the role of patents, copyrights and trademarks as methods of protecting business ideas
So, you have come up with your new business idea!
What possible problems might you face?
Shakeaway
• Shakeaway are launching a take away product in supermarkets which will sell in the lunchtime aisle.
• What problems, if any, will this create for Shakeaway?
BP
• BP has developed a piece of plastic which fits into the petrol tank of cars. This helps reduce fuel emissions.
• What problems, if any, will this create for BP?
Jamie Oliver• Jamie Oliver has bought out a range of food
bundles. All the correct ingredients, correctly weighed are delivered to your door with a recipe card.
• What problems, if any, might this idea face?
Copyright: the protection given to
books, plays and films
Patent: exclusive right to use a process or a product, usually for a
fixed period of time, up to 20 years.
Trademark: a word, sound or image that enables a business to
differentiate itself from its competitors
Objectives• Understand and explain
how entrepreneurs identify and exploit a market niche
• Understand the main sources of ideas for new business start-ups
• Examine the role of patents, copyrights and trademarks as methods of protecting business ideas
Plenary
Is luck or research more
important when setting
up a business?Explain your
answer