as business studies generating business ideas
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AS BusinessGenerating and Protecting business
ideas
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Have you bought your book yet?
Deadline: Friday 13th September
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So, you want to set up your own business?
What do we call you?
What qualities do you need to have?
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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
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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?
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Advantages and DisadvantagesAdvantage Benefits Disadvantages
Knowing the product or service
Spotting a gap in the market
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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
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Initial Research
• Maps• Demographic Data• Look at competition• Gaps in the market?• Primary research• Identify market
segments
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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
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So, you have come up with your new business idea!
What possible problems might you face?
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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?
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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?
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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?
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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
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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
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Plenary
Is luck or research more
important when setting
up a business?Explain your
answer