The Business Idea

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Across
  1. 2. An assessment of how viable a business concept is. Essentially, it is an assessment of a business ideas chances of success.
  2. 3. Source of business opportunity
  3. 4. How many different areas of feasibility there are
  4. 6. An area a business can contribute to
  5. 7. Something that needs to be considered in market research
  6. 12. Something entrepreneurs need to be able to do
  7. 13. Characteristic of an entrepreneur
  8. 16. Not having to rely on an employer for their income
  9. 17. A medium-sized business decides to sponsor a local community event.
  10. 18. This means that goals need to be clear so that managers and employees have a specific direction to work towards and know exactly what needs to be achieved. Goals should also be measurable and should be given a timeframe so that members of the business know when the goal needs to be achieved by.
  11. 20. Involves the use of market research to develop an understanding of the market conditions and whether there is the demand for the goods/services.
  12. 21. objectives that relate to the contribution of a business to the community.
  13. 22. An area a business can contribute to
Down
  1. 1. Way a business can contribute to the economy.
  2. 5. Involves considering whether, the initial costs of setting up the business such as purchasing the equipment needed and paying for employees are affordable, and the industry and its customers are likely to support the opening of this potential business
  3. 8. Way a business can contribute to the economy.
  4. 9. Motivation to start a business where they can earn more money compared to working for someone else
  5. 10. Source of business opportunity
  6. 11. The process of gathering and analysing information concerning a specific market.
  7. 14. Are important to set so the business knows what they want to achieve over a specific time frame.
  8. 15. The objectives that relate to the monetary performance of the business.
  9. 19. What goals should be in order to motivate those within the business. If people are challenged, they will need to put in more effort in order to achieve the goal. If goals are too easy, whilst the goal may be achieved the business may not reach its full potential. Whilst goals need to be challenging, they should still be attainable because if they are beyond the reach of the business then they are unlikely to motivate anyone.