Domain 1
Ideal for a single owner seeking low-risk?
What is an LCC
a group of customers that will buy a product or service
What is a target market?
A method used to get a product from the manufacturer to the end user
What is a distribution channel
Assets, Liabilities, Equity
What is a Balance sheet
Test
What is the final step of the design thinking process?
a business that sells similar products that could meet the same needs.
What is an indirect competition?
Measured by how well the product or service successfully serves its user’s purpose
How is quality measured?
An investment that lets a buyer start a business
What is a business opportunity?
determine areas for improvement.
What is a SWOT analysis?
Manufacturer>Wholesaler>Retailer>Customer
What is a two-level channel?
next, as the owner decides if they will continue to grow the business into a large company or pivot to a new project.
What is Pivoting or Persisting?
articles or academic journals, interpret primary data, and often include personal bias
What is secondary data?
receives, processes, and fills customer order on behalf of the company
What is a Fulfillment center
Risk tolerance: The amount of loss one is willing to take when making investment decisions
What is a characteristic of an entrepreneur?
can help an entrepreneur make up for a lack of skills
What is a passion
Business start to earn revenue
What is the monetization stage
5/1/2024
When are we taking the exam