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