Foods II Objective 1.01 Key Terms

Front

An idea for a new business that can be tested.

Back

business concept

Front

The pathways to customers; accomplished through advertising.

Back

channels

Front

The favorable position an organization seeks to be more profitable than its competitors.

Back

competitive advantage

Front

The fixed and variable costs.

Back

cost structure

Front

One who organizes, manages, and assumes the risks of a business or enterprise.

Back

entrepreneur

Front

Indicators for evaluating factors that are crucial to the success of a business.

Back

key metrics

Front

A fluid, simple diagram that captures a business model.

Back

lean canvas model

Front

A thing that you can touch or a service that you can offer which is sold to your customers.

Back

product

Front

Money that comes into the business.

Back

revenue

Front

All the expenses required to start your business.

Back

start-up costs