SA · SACE BoardQ&A

Business InnovationQ&A by dot point

A short Q&A bank for every SA Business Innovation syllabus dot point. Each question and answer is drawn directly from our worked dot-point page, so you can scan key concepts before opening the long-form answer.

Business and Society

Create and apply business intelligence from data to develop and evaluate business models and plans.
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Analyse and evaluate the opportunities and challenges that digital and emerging technologies pose for a business.
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Analyse and evaluate the social, economic, environmental and ethical impacts of a local or global business.
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Identify intellectual property and legal requirements relevant to protecting and operating a venture.
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Apply project management and decision-making tools and strategies to plan and deliver a venture in a business context.
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Business Model

Select and justify a revenue model and pricing strategy that captures value and supports a viable business model.
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Use the Business Model Canvas to map and evaluate how a business creates, delivers and captures value.
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Define customer segments and design a value proposition that fits their needs, using the Value Proposition Canvas.
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Financials and Testing

Assess the financial viability of a venture using start-up costs, break-even analysis and a cash flow forecast.
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Evaluate sources of finance and select appropriate funding for the start-up and growth of a venture.
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Test and validate the riskiest assumptions of a business idea using lean experiments and a minimum viable product.
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Idea Generation

Apply design thinking and ideation techniques to generate and select innovative solutions to a defined problem.
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Apply empathy research methods such as interviews, observation and empathy maps to understand customer problems and needs.
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Identify business opportunities by researching customer needs, market gaps and emerging trends.
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Use primary and secondary market research and trend analysis to identify gaps and opportunities for a venture.
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Pitching, Prototyping and Review

Plan and deliver a persuasive pitch that communicates the value proposition and business case to stakeholders.
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Create and iterate prototypes of a product or service to test, demonstrate and refine the value proposition.
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Review feedback and performance to refine the business idea and communicate decisions and the business plan.
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Construct a business plan that communicates the opportunity, model, market, financials and implementation for a venture.
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