A business model:
a. means the same thing as a revenue model
b. focuses on how the product or service will serve a market need
c. determines how profits will be made
d. determines how revenue will be earned
b. focuses on how the product or service will serve a market need
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In the ______ stage of the innovation process, a problem is identified from existing information, experience, and knowledge.
A. implementation and diffusion B. idea generation C. problem-solving D. brainstorming
Jennifer has an idea for starting a new business. Although she is only a high school graduate, she is certain the business will succeed because she can target high school and college graduates and then the general public. Her idea is for an employment agency that focuses on individuals with excellent computer and writing skills that will work for companies writing blog and web-page materials from home. She knows several individuals she can approach for employment and has several classmates in mind for their employees. She puts together a business plan, researches office locations, existing employment agency procedures and hiring practices, and forms of business. She meets with a banker and asks about financing for the start-up and is turned down. The banker suggests she seek crowdfunding.
Knowing crowdfunding will not generate the funds she will need, she approaches her parents and asks for a loan. Her parents agree to loan her $10,000, but require her to sign a written pledge to repay the $10,000 plus interest in one year. What was the written pledge she signed? A. Trade credit B. Promissory note C. Unsecured bank loan D. Commercial paper
An automobile insurance agent believes that company A is more reliable than company B. Which scale of measurement does this information represent?
a. Nominal b. Ordinal c. Interval d. Ratio
The ____________________ probability distribution deals with consecutive trials that are statistically independent, each of which has only two possible outcomes, generally referred to as success or failure
Fill in the blank(s) with correct word