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his installation will help consumers to filter and store rainwater even after the rainy season has gone. It will augment the water suppl

his installation will help consumers to filter and store rainwater even after the rainy season has gone. It will augment the water suppl

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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INSTRUCTION: Think of one societal problem, then give an example of a business idea and target market.

 

Here, I provide one example for reference purposes.

Societal Problem: Water Shortage 

Business Idea: A rainwater harvesting system comprises a collection area, a conveyance system, and storage facilities. The purpose of this installation will help consumers to filter and store rainwater even after the rainy season has gone. It will augment the water supplied by the Baguio Water District, especially during the dry season.

Target Market: Household and business owners.

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