The Design Thinking Process
The design thinking process has ____elements for a design team to develop products that meet customers’ need.
5
Tangible items that require pick-up or delivery are
Physical Products
They are not personally liable for the company’s debt
LLC -limited liability company
_____are individuals or groups that have an interest in the success of a company.
Stakeholders
The first stage is _____, when a business begins. After this initial period is the survival stage.
existence
During which stage of the design thinking process will the design team create multiple inexpensive product versions?
Prototype
When a customer purchases an item from a business it is called?
B2C (Business to consumer)
responsible for all debt and they are easy to create.
A sole proprietorship
have a vested interest in a company, meaning they pay for part of the ownership
Stockholders
Once a business is economically healthy, it moves to the
success stage
During which stage of the design thinking process is a problem statement formed?
Define
Is web designs a product or service?
Service
No ownership, no US federal taxes
NON-Profit
Non-cash compensation
Equity
During the resource______, the owner can separate financially and operationally from a business.
maturity stage
Which stage of the design thinking process involves learning about customers' challenges?
Empathize
When a business makes a purchase from another business
B2B (it is a business-to-business (B2B) transaction.)
Best for international business even with being double-taxed
C-Corporation
Usually found in sales roles
Commission
______ is next as an owner decides if they will continue to grow the business into a large company or pivot to a new project
Pivot or persist
List the correct order of the design thinking process.
Define
Test
Prototype
Empathize
Ideate
Empathize
Define
Ideate
Prototype
Test
A ______ is a licensed business that has established operations, products or services, and branding.
Franchise
An _____and ____ have specific tax advantages and limited liability. They have shareholders, a lower tax rate, and follow strict qualifications to create.
S corporation
C corporation
Set amount of pay in a given period
Salary
Put the business Life Cycle in order
Resource maturity
Exit Plan
Survival
Privot or persist
Existence
Take-off
Existence
Survival
Success
Take-off
Resource maturity
Privot or persist
Exit Plan