QfS Unit #3

Gabriel and his inventor sell laundry folding machines. They were so successful that they decided to expand their business to include more investors . Before they could begin they needed to obtain a loan from the local bank. The bank asked them to provide additional paperwork before deciding to loan them the money. They requested a copy of the engineering design process and a copy of the business plan to evaluate their loan

Question: What is an engineering design process or EDP?

• steps innovators apply to develop a solution to a problem

• designs of a prototype

• steps used for building a design (Ask, Imagine, Plan, Create, Improve)

• design processes used in the laundry machine

Gabriel and his inventor sell laundry folding machines. They were so successful that they decided to expand their business to include more investors . Before they could begin they needed to obtain a loan from the local bank. The bank asked them to provide additional paperwork before deciding to loan them the money. They requested a copy of the engineering design process and a copy of the business plan to evaluate their loan.

Question: When the bank asked for the BUSINESS PLAN, what exactly are they looking for?

• plan of employees and budget

• plan of where the business will exist and ship products from

• official business name and logo

• business objectives and strategies and how goals will be met

The introduction of something new is known as...

• creativity

• prototype

• innovation

• invention

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

• mediator

• entrepreneur

• inventor

An assessment that shows whether or not the goals of a project were accomplished is...

• Request for Proposal

• Project schedule

• Project evaluation

Building a model of a food truck, having a floor plan design, and having a full-scale functional design is an example of...

• project schedule

• prototype

• creativity

When you gather information to understand the needs of your customers, you are conducting...

• market research

• project evaluation

• an RFP or a request for a proposal

Mrs. David's students met as a team and created a tentative timeline of activities, deliverables, and dates. This is called a...

• Request for Proposal (RFP)

• Project evaluation

• Project schedule

A legal document that is used to request proposals for a contract or a service is ....

• project evaluation

• request for proposal (RFP)

• project schedule

Rachel is an incredible and creative young lady who is always creating new ideas in technology and computers. One day she created an app that could predict specific outcomes using algorithms. The app was so successful she decided to obtain a patent.

Question: What is a patent?

• a writing for a term of years for the right to exclude others from making, using, or selling an invention.

• a legal document that defines objectives and strategies of a business

• a document that includes the needs of your customers and the value of your product