- Use three different business examples to illustrate three possible sources of business opportunities.
- What is a franchise?
- Rhona is thinking of setting up a hairdressing business but is unsure whether to apply for a franchise or to set up as an independent business. Outline two possible benefits to the business of operating a franchise compared to starting a new business.
- Outline two problems that Rhona might encounter as a result of operating a franchise compared to starting a new business.
- Explain the meaning of the term 'copyright'.
- How might copyright benefit authors or musicians?
- What is a patent?
- What is a trademark and why might it benefit a business?
- Discuss whether ownership of a patent is likely to be beneficial for an entrepreneur with an original business idea.
- To what extent might the level of risk and the potential to grow differ for an entrepreneur, like Rhona, if she decides to develop her hairdressing business via a franchise rather than setting up as an independent business?
Is the purpose of Business simply to Make Money?
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