Page 106 - Business_Studies_F5

Student's Book Form Five

Screening business ideas

Task 6.2

For each of the five business ideas identified in Task 6.1 respond to the following
FOR ONLINE READING ONLY
questions for every idea.

Table 6.2: Screening business ideas

Questions for screening your opportunities Insert your
S/N
or ideas response

1. Are you convinced that there is a ready market
for the product? Do you have some indications?

2. What is unique? Can you develop competitive
advantages over others?

3. Do you have, or can you quickly acquire the
Key Success Factor (KSF) for the business?

4. Is the idea compatible to legal requirements
and morals/ethics?

5. Is the market saturated? If yes, think twice.

6. Is the idea compatible with community’s values
and life style?

7. Does it have growth potential? Is the industry
declining/stable/growing?

8. Can you raise the investment capital required?
How?

9. What makes you the best person to do this
business?

97 Business Studies for Advanced Secondary Schools

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