Entrepreneurship
This term describes the specific group of people most likely to buy a product.
What is a target market?
A team can build their solution fast using materials they already own.
Strength
This term describes anything a company owns that has value, like cash, equipment, or property.
Asset
What does CEO stand for?
Chief Executive Officer
This is what the acronym SPARK stands for.
Students Promoting Action, Responsibility, and Knowledge
This company started as a small online bookstore before growing into one of the biggest companies in the world.
What is Amazon?
Blockbuster didn't adapt when Netflix introduced streaming, and it cost them the business. This is a classic example of this SWOT category catching a company off guard.
Threat
A dog-walking business earns $500 in one month and spends $150 on supplies and gas. What is its profit?
$350
What is Elon Musk the CEO of?
Tesla and SpaceX
This is the grade range SPARK workshops are designed for.
Grades 5–9 or middle school students
What is a value proposition?
The main benefit a product or service provides to customers and why they should choose it over other options.
A new fitness app doesn't work without wifi yet, which frustrates users who want to use it outdoors.
Weakness
What is the difference between revenue and profit?
Revenue is the total money a business earns from selling it's products or services. Profit is the money left after the business pays all of its expenses.
CEO Jensen Huang helped turn Nvidia into one of the most valuable tech companies in the world. Rather than making apps, they make the powerful computer microchips needed to run this modern technology wave.
What is Artificial Intelligence (or AI)?
This is the name of SPARK's flagship four-workshop series.
Young Innovators Program
What does it mean for a business to be scalable?
It means the business can grow and reach more customers without having to completely change how it operates.
Rising interest in eco-friendly products means more customers may want to buy a company's reusable water bottles.
Opportunity
If it costs Apple $400 in parts and factory labor to make an iPhone, and they sell it to you for $1,000, the $600 difference is known as this specific type of profit.
What is gross profit?
This social media platform started as a way for Harvard students to connect with each other, before opening up to everyone.
What is Facebook?
This is what each letter in "SWOT" stands for, as taught in Workshop 1.
Strengths, Weaknesses, Opportunities, and Threats
This term describes a company's overall plan for how it will make money (its product, its customers, and how it earns revenue, all in one).
Business model
While Strengths and Weaknesses focus entirely on internal things happening inside the business walls, Opportunities and Threats look at these types of factors happening out in the wider world.
External factors
If you use your savings to buy just one single share of a company on the public stock market, you officially become a tiny, certified part-owner, known as a what?
What is a shareholder (or stockholder)?
Apple can sell more iPhones and increase its revenue, but its profit could still decrease. How is this possible?
Apple's expenses could increase faster than its revenue.
One takeaway from spark and one thing we an improve on. Each kid from your team has to answer this in order to get points.
opinion