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Business Studies

Invention

The discovery of new processes and potential new products typically after a period of research

Questions

What if?

When?

Where?

How?

What?

Why not?

Why?

Thinking Creatively

Blue Skies Thinking

Lateral Thinking

6 Thinking Hats

Blue - Thinking about thinking

Green - Lateral thinking

Yellow - Positive thinking

Black - Problems thinking

Red - Emotions thinking

White - Factual thinking

Business Plan

Source of finance

Cash Flow Forecast

Costs/Revenue

Marketing

Production method

The product/service

Key personnel and info

Suppliers

Premises

Equipment

Name, History, Location

The process of transforming inventions into products that can be sold to customers

Sources of Added Value

USP

Branding

Speed and Quality Service

Convenience

Design and Formula

Quality

Entrepreneurial Skills

Leadership

Planning

Risk Taking

Determination

Initiative

Innovation