Business Life Cycle
How many stages are in a business life cycle
What is SEVEN
When a busines makes a purchase from another business, it is a ______ transaction
What is a B2B
For profit corporations with limited liability is what kind of corporation?
What is S corporartions
Who oversees company finances
How many elements are there in the design thinking process?
What is Five
What is the first life cycle stage?
What is Existence
When a customer makes a purchase from a business, it is a __________transaction.
What is a B2C
What kind of legal structure is ideal for international businesses?
What is c corporations
who reports to the board of directors
What is CEO
A design team uses the design thinking process to develop products that meet customers' need.
Name at least 2
What is
Empathize, Define, Ideate, Prototype, Test
This is the correct order
Michael owns a small but profitable tech company. He has been approached by a larger company that wants to purchase his business. In which business life cycle stage is Michael?
What is Exit Plan
What type of business is less risky, has established operations & recognized brands
What is a franchise
Shared financial backing
What is a partnership
A____________votes on the management of a company
What is a Stockholder
During which stage of the design thinking process will the design team create multiple inexpensive product versions?
What is Prototype
Bill just started a new graphic design business. He is advertising online and trying to gain customers. He just finished working with his first client. In which business life cycle stage is Bill?
What is Existence
Tangible items that require pick-up or delivery are ___________________ products.
What is physical
No ownership, no US federal taxes
What is non-profit
Businesses can compensate employees for work they produce when being paid by _________.
What is Piece work
During which stage of the design thinking process is a problem statement formed?
What is Define
Stephanie started a new flower shop last year. She has a good customer base and money coming in. In which business life cycle stage is Stephanie?
What is Survival
Which is the ideal legal structure for a single owner seeking low risk
What is a LLC
Ideal for a single owner seeking low risk
What is LLC
Businesses can offer _________ in addition to a lower salary.
What is Equity
Which stage of the design thinking process involves learning about customers' challenges?
What is Empathize