Sunday, 11 November 2012

                                        FRANCHISE


Definition franchise?
This is an arrangement in which the owner of a trademark, Trade name, or copyright has licensed others, to use it in selling goods or services.

Who is a franchisee?
This is the purchaser of a franchise.

Who is a franchisor
This is the person that buys a franchise.

Definition of a franchise. The existence of a franchise is a matter of definition, pure and simple. Courts will find that a transaction is a "franchise" if three elements are present: (1) the grant or licensing of a right to use a trademark or trade name; (2) the payment of a "franchise fee" for the use of the mark or name; and (3) some variant of a community of interest, marketing plan, control, or assistance.
Advantages of Franchise
1 Training and Guidance
2  Proven Track Record
3  Brand-name Appeal
4  Financial Assistance
  Examples of Franchise outside Nigeria
Subway
EXAMPLE OF FRANCHISE IN NIGERIA
                Tetrazzini

Saturday, 3 November 2012

                  CREATIVITY AND INNOVATION

Creativity is the generation of ideas that results in the improved efficiency or effectiveness of a business.

Innovation is the process by which entrepreneurs convert opportunity into marketable ideas.

                          sources of innovation ideas

TREND-society,technology
UNEXPECTED OCCURRENCES- unexpected success
INCONGRUITIES- overning  package delivery
PROCESS NEEDS- sugar making
 INDUSTRY AND MARKET CHANGES-health care industry
DEMOGRAPHIC CHANGES-rest home
PERCEPTUAL CHANGES-exercise 
KNOWLEDGE BASED CONCEPT- robotics, 

                           TYPES OF INNOVATION

INVENTION-airplanes

EXTENSION- facebook

DUPLICATION- personal computer

SYNTHESIS- Starbucks