3.2.6 Competitive Environment
- understand the meaning of a market and competition
- analyse potential impacts of competition on businesses and identify situations when businesses face minimal or no competition
- understand the risks businesses face and the reasons why all businesses face uncertainty
- understand the reason why entrepreneurs embark on running businesses and the activities businesses can undertake to minimise risks
- Impact on businesses of operating in competitive markets
- Uncertainty and risks businesses face
Market Research - Coca Cola vs Pespi - Monopoly - Telegraph article - Dragon's Den - Apple Business Nightmare - Time.com
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