Business Ideas (Leaving Cert Business): Flashcards

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Business Ideas
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Idea development

Innovative approach to refining business ideas

Stage 1: Inspiration

Generating multiple business ideas without judgement

Stage 2: Incubation

Structured analysis & development of ideas

Stage 3: Illumination

Concepts take concrete shape; weaknesses identified

Stage 4: Implementation

Product/service ready for market launch

Stage 5: Evaluation

Assessing results after market entry

SWOT acronym meaning

Strengths, Weaknesses, Opportunities, Threats

SWOT internal factors

Strengths and Weaknesses

SWOT external factors

Opportunities and Threats

Key activity during inspiration stage

Brainstorming to generate numerous ideas

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