1.1 Manipulating existing products – By manipulating an existing product an entrepreneur can improve the product. By improving the product an entrepreneur can state that it is a new product. By improving (manipulating) the product, it is much easier and less costly for the entrepreneur.
1.2 Attribute analysis – This is an analysis of the product or service. The features and/or attributes will be listed for analysis. Once they have it listed the entrepreneur can search for ways to improve the product or service.
1.3 Existing product –
1.4 Brainstorming – This method is used to generate new ideas on how to make a new product or improving an existing product. An entrepreneur must list all ideas he/she can think of until there are no new ideas to be added. Once the ideas have been listed he/she can evaluate the list and chose the most feasible ones.
1.5 Metaphorical analogy – This is a method an entrepreneur can use to solve a specific problem he/she can encounter. This method uses solutions for a specific problem in different context.
Question 2
2.1
Direct Taxation
Indirect Taxation
Personal taxation – such as individuals, companies, partnerships and close corporations.
Value-added tax (VAT) – such as customs and excise duties.
Direct taxation is deducted from an individual’s pay. The higher the individual’s income, the higher percentage of tax is paid.
Indirect taxation is added to goods such as clothing, food, etc. and services such as telephone bills, etc. at a standard rate of 14%.
When an individual’s income increases their percentage of payable tax also increases.
This is the government’s largest source of income.
2.2
A close corporation is organized under state law to operate more informally than most traditional corporations. The business is usually owned and managed by a small group of people, in most cases family members.
