VCE Unit 1 AOS 1 Business Management - KK1-3 Recap

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Across
  1. 3. (Business)A gap in the market where customer needs are not being fully met.
  2. 6. The process of creating or improving products, services, or processes to add value
  3. 7. (two words) The process of refining a business idea into a clear and workable plan.
  4. 9. (two words) The process of collecting and analysing information about customers, competitors, and market conditions.
  5. 10. The inputs required to operate a business, including (labour) human, capital (assets), natural (raw) resources.
  6. 11. The reasons or driving forces behind why an individual starts a business (e.g. profit, independence, social impact).
  7. 12. (two words) The requirements of consumers that a business aims to satisfy.
  8. 14. Individuals or groups with an interest in or affected by the business (e.g. owners, employees, customers).
Down
  1. 1. The ability to generate new and original ideas that can lead to innovation.
  2. 2. An individual who starts, manages, and takes risks in a business venture.
  3. 4. (two words) The desires of consumers that a business aims to satisfy.
  4. 5. The way businesses are grouped based on characteristics such as size, legal structure, industry sector, or ownership, to better understand how they operate and are managed.
  5. 6. (Business) A concept or proposal that can be developed into a business to meet customer needs or wants.
  6. 8. (of an entrepreneur) Personal traits that support business success, such as innovation, resilience, initiative, and risk-taking.
  7. 13. A group of customers with similar needs and wants who are willing and able to purchase a product or service.