Busad 250 exam 1 - Study guides, Class notes & Summaries

The framework that outlines how a firm plans to generate revenue is known as a(n) ____________. A. balance sheet B. income statement C. business mindset D. business model E. stakeholder model Answer D. business model Service businesses create value by performing activities that provide benefits to consumers, such as _____________. A. entertainment B. audiobooks C. furniture D. software E. music downloads Answer A. entertainment ____________________ attempt to operate efficiently ...

New product in R&D Answer Buy more capactiy Risk vs. Reward Answer -Higher the risk the more of the reward -Without promise of rewards businesses would have no incentive to take on risks -Decisions need to stay attached to the person who makes the decisions so they are responsible for them Market Environment Answer -A company's target customers, the buying influences that shape the behavior of the customers, and competitors that market similar products to those customers -(Target Custo...

BUSAD 250 Exam 1 -2023...

the 3 types of businesses Answer Goods producing businesses Service businesses Not for profit organizations Companies that create value by making "things," most of which are tangible (capital intensive) Answer Goods producing businesses Companies that create value by performing activities that deliver some benefit to customers (labor intensive) Answer Service businesses Organizations that provide goods and services without having a profit motive; these are also called nonprofit orga...

BUSAD 250 Exam 1 Studyguide 2023-2024...

Non-profit Organizations Answer Do not have a profit motive Goods-producing Business Answer Create value by "making" things, tangible or having physical existence Service Businesses Answer Create value by performing activities that deliver some benefit to the customer Business Model Answer a concise description of how a business intends to generate revenue Competitive Advantage Answer makes you more appealing to your target audience Barrier to Entry Answer any resource or capabi...

Business - correct answer Any profit-seeking organization that provides goods and services designed to satisfy customers' needs. Revenue - correct answer Money a company brings in through the sale of goods and services. Business Model - correct answer A concise description of how a business intends to generate revenue Profit - correct answer Money left over after all the costs involved in doing business have been deducted from revenue. Competitive Advantage - correct answer Some asp...

the 3 types of businesses - correct answer Goods producing businesses Service businesses Not for profit organizations Companies that create value by making "things," most of which are tangible (capital intensive) - correct answer Goods producing businesses Companies that create value by performing activities that deliver some benefit to customers (labor intensive) - correct answer Service businesses Organizations that provide goods and services without having a profit motive; these ...