Solutions
In a business model, this concept defines why consumers should buy your product and not its competitors
Value proposition
This concept represents the maximum number of potential customers for your business
Total Addressable Market
Total Market Size
Name & describe any type of key resource
Physical, Human, Financial, Intellectual
What is a cost that cannot be recovered?
"Sunk cost"
This strategy allows you to select a group of respondents for your survey from a broader population.
Sampling
In the business canvas, this section defines the ultimate broad purpose or objective for a social venture.
This approach involves understanding the different categories that make up your potential costumers
Market segmentation
This section of the business canvas describes what your venture actually performs routinely
Key activities
This method for recording financial records is complex but improves efficiency and reduces errors.
Bonus: when was it invented?
Double-entry accounting
1494
This methodology allows us to estimate the causal relationship between two variables.
A-B Testing
Experiments
This conceptual framework describes how the social venture seeks to address the problem and move to a better social equilibrium.
Theory of Change
Name & describe at least one market-targeting strategy
Undifferentiated targeting
Differentiated targeting
Niche targeting
Micro targeting
These indicators represent important operational objectives and success metrics for your firm
Key Performance Indicators
Name and descrive one of the two strategies to improve the efficiency of cost structures.
Economies of scale
Economies of scope
This type of error is introduced when survey or interview respondents feel pressured to answer in a specific way, so that they will be liked.
Social desirability bias
Name & describe any of Porter's forces shaping competition within an industry
Consumer power
Supplier power
Barrier to entry
Substitution
Name & describe at least one market channel, which connects a business to its costumers
Awareness
Evaluation
Purchase
Delivery
After-sales
This approach allows you to understand step by step how a certain activity is conducted
Process mapping
What are the two key types of revenue models for businesses?
Cost-driven
Value-driven
This type of interview format allows for some flexibility while following a pre-arranged list of topics.
Semi-structured interview
Name & describe at least two steps of the "Design Thinking" process for innovation
Emphatise
Define
Ideate
Prototype
Test
A procedure used to determine how to charge optimally for a product
Price-point analysis
Impact & commercial activities can be categorized into two different types, depending on their synergy.
Complementary & opposing
With this approach to estimating profits, historical data is used to extrapolate & project a trend into the future
Time series analysis
This type of error is introduced when a third variable influences both the cause and the effect that we are studying.
Omitted-variable bias