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Business Intro Activities (1)

The document consists of a quiz that prompts individuals to name various types of businesses, highlighting examples from small to large enterprises and their reputations. It emphasizes the significance of small businesses in Australia, using Atlassian as a case study of successful entrepreneurship. Additionally, it discusses sources of business opportunities and the importance of market research and innovation in establishing new businesses.

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jamshid.dadyar53
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12 views3 pages

Business Intro Activities (1)

The document consists of a quiz that prompts individuals to name various types of businesses, highlighting examples from small to large enterprises and their reputations. It emphasizes the significance of small businesses in Australia, using Atlassian as a case study of successful entrepreneurship. Additionally, it discusses sources of business opportunities and the importance of market research and innovation in establishing new businesses.

Uploaded by

jamshid.dadyar53
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Quick Quiz - Different Types of Businesses

Name the first business that comes to mind

1. Small business Airport Shuttle Service


2. Large business Apple Inc.
3. Business that supports charities country road
4. Business based on technology Web design
5. Sport based business Sport photography
6. Fast food/junk food Kentucky Freid Chicken
7. Non-profit organisation Australia Libraries Copyright Commites
8. Business with a good reputation Amazon
9. Business with a poor reputation Facebook
10. Businesses that make good advertisements _______________________________________
11. Business that make poor advertisements _________________________________________
12. Most trustworthy bank ________________________________________________________
13. Private Boys School __________________________________________________________
14. Private Girls School ___________________________________________________________
15. Successful Sports Club ________________________________________________________
16. Gym/fitness centre ___________________________________________________________
17. Chocolate __________________________________________________________________
18. Fashion designer _____________________________________________________________
19. International business ________________________________________________________
20. Electrical goods ______________________________________________________________
21. A very profitable or successful business___________________________________________
22. A business losing profits _______________________________________________________
23. A new type business likely to succeed in the future__________________________________
24. A business which is relocating operations overseas__________________________________
25. A business which is not able to compete with competitors____________________________
26. A business which has operated for a long time and recently closed or about to
close_______________________________________________________________________
Compare your answers with the person next to you.
Identifying Sources of Business Opportunity Task
WHY LEARN THIS?
Did you know that small businesses make up over 96 per cent of all businesses in Australia? Take a look around
your local area and you will see plenty of examples of businesses that are considered small because they have
fewer than 20 employees. A small business starts with an idea, and usually a very excited business person who
strives to turn their dream into reality. Software company Atlassian is one such business. Co-founders, friends
Scott Farquhar and Mike Cannon-Brookes, started their business in 2002 as university drop-outs, working in a
garage with some servers and $10 000 on a credit card. Selling software used by some of the world’s largest
companies, this young technology company has grown from two to more than 800 employees. It is currently
valued at $3.5 billion.
Identify a significant invention or innovation.
___________________________________________________________________________________________________

___________________________________________________________________________________________________

In what way did this creation satisfy the need for a new product or an improved product?
___________________________________________________________________________________________________

___________________________________________________________________________________________________

Did it form the basis of a new business or has it been produced by an existing business?
___________________________________________________________________________________________________

___________________________________________________________________________________________________

Identify two potential ideas for a new business that could arise from the following:

A news report reveals that home burglaries are increasing


___________________________________________________________________________________________________

___________________________________________________________________________________________________

A government study finds a link between fast foods and increased childhood obesity
___________________________________________________________________________________________________

___________________________________________________________________________________________________

Melbourne has been chosen as the venue for a major sporting event
___________________________________________________________________________________________________

___________________________________________________________________________________________________

Studies find that people don’t have sufficient time to prepare healthy meals
___________________________________________________________________________________________________

___________________________________________________________________________________________________

A significant increase occurs in the birth rate


Childcare, baby food, nappies, baby formula, day care,
___________________________________________________________________________________________________

___________________________________________________________________________________________________
Statistics show a significant number of retired people living in an area
___________________________________________________________________________________________________
Select the most appropriate words from the following list to complete the paragraph.

Market share education social feasibility technological independence


innovation profit market research entrepreneurship gap
market conditions global market

(Note – four words will be left over)

New ideas for businesses can come from a range of sources, including identifying a gap in the market,
technological development and changing customer needs. Prospective business owners can be motivated
by the desire for entrepreneurship the need to make a profit and to fulfil a market and/or social need.
Before establishing a business, the owner should determine whether there is enough demand for the good
or service to ensure that it will survive and generate a profit. By carrying out a process of market research
and conducting an initial independence study, he or she can determine whether appropriate market
conditions exist to give the business a chance of success. An invention can often provide the stimulus to
begin a new business, although sometimes the improvement of an existing product, known as an
innovation, can serve the same purpose.
Which four words did not fit in? Compare with the person next to you.
Market share ___________________________________
education ___________________________________
feasibility ___________________________________
global market
__________________________________

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