Business enterprise
Unit summary
The purpose of this unit is to help learners to appreciate what makes a product (good or service) viable as a business proposition. Learning about how businesses carry out market research and use research findings to modify their propositions is a key part of this unit. Learners will also explore how businesses communicate effectively with potential investors and target markets.
Unit details
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15 Business, Administration and Law
Task-based controlled assessment
| Learning Outcome |
Assessment Criteria |
| 1 Know how to generate and select product ideas for development. |
a. Identify market needs and customer preferences.
b. Generate and select of potentially viable product ideas to meet customer needs. |
| 2 Be able to use simple market research to modify the business idea. |
a. Use simple market research to test ideas on potential customers.
b. Record how findings from simple market research influence the modification of a business idea. |
| 3 Know how to implement the business idea. |
a. Promote a product to a target market using ICT.
b. Outline plans for the launch of a business idea. |
| 4. Be able to communicate the merits of the business idea to prospective investors. |
a. Outline the merits of a business idea.
b. Present a simple but persuasive case for your idea to potential investor. |