Page 65 - Business Studies

Business Studies for Secondary Schools
(c) Review the results and use the
data collected to identify trends,
preferences, and pain points.
2. Conduct interviews
(a) Conduct in-depth conversations
FOR ONLINE READING ONLY
with potential customers, industry
experts, or competitors to gain
insights.
(b) Ask open-ended questions to
encourage detailed responses and
explore underlying motivations.
(c) Listen actively to what people say,
and ask follow-up questions.
3. Observations
(a) Observe customer behaviour by
watching how people interact with
products or services in stores or
online.
(b) Analyse competitors by studying
successful businesses in the industry
to identify their strengths and
weaknesses.
(c) Identify unmet needs and look
for opportunities to fill gaps in the
market.
Familiarising yourself with potential
suppliers and the associated costs is crucial
for assessing the feasibility of a small
business opportunity. Understanding the
market for resources and materials can
help small business entrepreneurs make
informed decisions about the business’s
potential.
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Business Studies Form 2.indd 59
Business Studies Form 2.indd 59
Activity 5.2
Engage with a diverse group of people
in your community, including at least
three people who are older than you,
younger than you and who usually do
not speak with you. Ask them:
(a) What are the major problems
facing their community?
(b) Write a report on your findings,
stating the potential solutions to
the raised problems.
(c) For two solutions stated in (b)
above, what steps could you
take to see if it would be a good
business opportunity?
(d) Which solution would you most
like to launch as a business? Why?
Exercise 5.2
1. Rehema worries about the growing
piles of plastic bottles in her
neighbourhood. She is passionate
about protecting the environment.
She wants to know if it is possible to
make recycled shopping bags from
them and if people would be willing
to purchase them.
(a) Which steps should she consider
when identifying a business
opportunity? Why?
(b) Rehema decides to conduct
interviews in her community to learn
more. Who should she interview?
What are some interview questions
she could craft to learn more about
protecting the environment?
Student’s Book Form Two
03/10/2024 16:07
03/10/2024 16:07