ENTREP.

Cards (44)

  • it is owned by a limited number of stock holders
    -Closed Corporations
  • What is the purposed of validating the service description of a product with potential customers
    -to determine market acceptability
  • what does a visual prototype primarily showcase
    the size and shape of the product
    -the product scheme
  • which type of prototype includes critical buttons but not may have finalized copy the or all elements included
    -low fidelity
  • if you want to test your product idea with real users, which step should you take
    -build a prototype
  • why is prototype testing important during different stages of design
    -to identify problematic issues
  • what is the purpose of validating of a products mission statement and objective
    -to determine market acceptability
  • what type of prototype provides users with a more developed view of how the product will work
    -medium fidelity
  • during prototype testing, what can you learn from user feedback
    -usability and accessibility
  • which type of prototype represents the final products size and shape but lacks full functionality
    -low fidelity
  • suppose you’re designing a new website. what type of prototype would help you test the products value position and user interaction
    -low fidelity
  • which of the following falls under the material aspect of the 4Ms
    -purchasing raw materials
  • why is the method crucial for efficient business operations
    -it streamlines processes and workflows
  • if you were to apply the 4Ms to your new business idea, which aspect would involve rec
    -man power
  • what does the term business model refer to
    -pinakamahaba/longest
  • how does the revenue forecasting differ from the sales forecasting
    -revenue forecasting considera the entire business, while sales forecasting on sales team activities
  • which forecasting method relies on measurable data and consider historical performance
    -Bottom up Forecasting
  • Business Plan

    A written document that describes all the steps necessary for opening and operating a successful business
  • Critical
    The business plan can make or break your business
  • Business plans

    • Serve the same three basic elements: introductory materials, body, appendix
    • Except for confidentiality
  • Title Page

    Includes name of the company, the date, the owner of the company and the title of the owner, and address and phone number of the company
  • Statement of Purpose
    A brief explanation of why you are asking for a loan and what you plan to do with the money
  • Executive Summary

    A short restatement of the report, written in a clear, simple style and said to be the "first to appear, last to prepare" in business plan
  • Marketing
    A detailed description of the business and its goals; and contains the advantages of you and your business has over your competitors
  • Advantages of your business

    • Performance
    • Quality
    • Price
  • Important indicators in marketing

    • Market
    • Industry
    • Technology
  • Cooperative
    Owned and controlled by an association of members and can be set up as a for-profit or as a not-for-profit organization
  • Partnership
    A non-incorporated business that is created between two or more people
  • General Partnership

    Partner divides responsibility, liability and profit or loss according to their agreement
  • Limited Partnership

    At least one general partner, there are one or more limited partner who have limited liability to the extent of their investment
  • Marketing
    A social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others
  • Needs
    Preferences of people regarding their survival requirements
  • Wants
    Natural essential elements designed for survival
  • Demands
    Needs and wants that are backed up by consumer purchasing with money to buy
  • Characteristics of markets
    • Groups of people
    • Willingness to spend the money of consumers
  • Customer Value
    The difference between what the customer gains from the product and what the customer loses from the costs of acquiring such product
  • Customer Satisfaction
    The extent to which product tends to meet the expectations the buyers of a product which they bought to fulfill their need and want
  • Quality
    The product's freedom from defects
  • Products
    Bundles of attributes and benefits designed to be offered to buyers to satisfy their needs, wants and demands
  • Location
    The exact place where the business will be located, since this is often a critical factor for its success