Explain why design thinking is important to the entrepreneur.
What will be an ideal response?
Today’s business environments are complex, requiring constant innovation and problem solving. The design thinking process helps the entrepreneur develop new insights that can lead to new products and unique solutions. Through the design process, ideas can take leaps of creativity to address latent or new needs. The design process aligns with the overall entrepreneurial activity of exploration, interacting with the customer, experimentation, and continuous learning. Using a process can be learned so that entrepreneurs can develop increased skills in observation, ideation, and implementation.
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Mr. and Mrs. King had only one casualty loss this year when a tornado (a federally declared disaster) damaged their home, decreasing its value by $70,000. The couple received a $48,000 reimbursement from their insurance company. Compute the Kings' itemized deduction for casualty losses if their AGI was $98,200.
A. $21,900 B. $12,080 C. $60,080 D. $22,000
An organic farmer has identified three distinct groups who might be interested in his products: vegetarians, people who are concerned about chemicals in their foods, and people who consider themselves innovators and trendsetters
These three groups are examples of ________. A) marketing mixes B) market segments C) product mixes D) mass markets E) market positions
When Occupational Safety and Health Act inspectors discover a hazard in which illness or injury incurred is unlikely to cause death or serious physical harm, but the violation does have a direct impact on safety and health, it reports a(n) ______ violation.
A. other than serious B. serious C. de minimis D. failure to abate
A global market-entry strategy in which a foreign company and a local firm invest together to create a local business in order to share ownership, control, and profits of the new company is referred to as
A. a joint venture. B. dual adaptation. C. licensing. D. contract assembly. E. direct exporting.