dAY OF REVIEW - iNDUSTRY cERT

Sale Business Cycle Stage 5- the owner separates with responsibilities &delegates to staff & has large market share

Design Thinking Process: What does it mean to prototype?

The design thinking team repeatedly will

Pricing Strategy: Prices that targeting customers looking to save as much money as possible

Sale Business Cycle Stage 4- Which stage is focused on expansion strategies and investment is balanced with potential?

Adaptable(flexible/creative/curious/Learn from mistakes), Tenacious (determined/couragous), Responsible (disciplined)

Who is the CFO? (Chief Financial Officer)

What is the target market?

What are the elements of the Design Thinking Process, in Order:

Pricing Strategy: Setting high prices when a product is introduced and then gradually lowering the price

Sale Business Cycle Stage 2- Which stage is shifting to revenue, expenses, and growth w/ cashflow being an issue?

A business where the owner licenses their operations, products or services, branding, and knowledge for a royalty fee

Who is the CEO? (Chief Executive Officer)

Design Thinking Process: What does it mean to empathize?

Product/Market Fit: Stage6 See growth and continue to grow the business

SWOT Analysis: Family Zoo is being set up. ID which would be strengths for the company.

A business sells raw materials to another business so that they can make their yo-yos. What type of transactio is this?

Product/Market Fit: Stage 5 A business starts to earn revenue

Which of the following legal structure of a business experiences UNLIMITED personal liability?

Who is the COO? (Chief Operating Officer)

Product/Market Fit: Stage 1 Develop an idea for a product or service

Hiring contracts include new employees signing a contract outlining employee's&employer's ___ & terms of employment

Owned and managed by one individual or sometimes a small group of people with a focus on generating profit

S-Corps have strict requirements to start. They are limited to no more than 100 shareholders. What other disadvantages

What is entrepreneurship?

I ordered personalized chess pieces online. This e-commerce product arrived at my door a week later. Product type?

You run a catering bus. You have busy seasons & "off-seasons". Employees may work 40+ hours to no work. How 2compensate?

Product/Market Fit: Stage2 Identify how a product or service solves customers' problems (MVP)

Pricing Strategy: High quality products marketed to high-income individuals

Used for businesses that are doing international business; it is subject to double taxation by taxing profits&dividends

Who is the CIO? (Chief Information Officer)

What is the order of the Business Life Cycle?

Design Thinking Process: What does it mean to define?

Design Thinking Process: What does it mean to test?

Lucy bought a new bedroom set for her home. What type of transaction is this?

Using a product repeatedly is an indicator of product/market fit.

Product/Market Fit: Stage 4Sales gain momentum and a business starts to grow

This legal structure for a business ensures it pays no US federal taxes and has no ownership over the company

You want to start a business with corporation benefits but don't want double taxation. 10 sharholders and no public sale

Leo's business is slumping recently. He is gathering info from staff/customers/partners. Bus.Life Cycle Stage?

Design Thinking Process: What does it mean to ideate?

An individual with an idea to offer an innovative product or service about which they are passionate

Ray is paid with bi-monthly paychecks and company stock. What is he paid?

Which corporation experiences double taxation?

Idea, Prototype, Lauch, Traction, Monetization, and Growth are the stages in order for which concpet?

T/F: Small business owners are not always interested in taking on new business opportunities

Business Legal Structure will you set up if you plan to grow &sell shares to the public,w/Asian partners, no pers liabi

Product/Market Fit: Stage3 The business is legally formed, and sales start to occur

Kelly sells burgers@Culvers. She busses tables, takes out the trash, cleans the bathroom, and takes orders. Bus. role?

Sale Business Cycle Stage 3 - Which stage is stable and profitable?

Define Market/Fit Hypothesis

Digital products have advantages...

Pricing Strategy: Setting prices low until after a reliable customer base is established, then raising prices

Lester invested in a computer chip manufacturing company &is pleased that he was able to help select the CEO, his role?

Which of the following is a tax-exempt business?

For a single owner seeking low risk

Fewer than 1,500 employees and less than $35.5 million in revenue is used to define this type of business:

SWOT Analysis helps a business determine both internal& external factors that impact profitability. Which are internal?