ESB Domain 1 Chapter 1 Part 2

Employees are paid a fixed amount each pay period.

• Salary

• Peice Work

• Commision

• Hourly Rate

A type of compensation provided for the amount of work produced.

• Salary

• Piece Work

• Commision

• Hourly Rate

A preliminary product, commonly a product with minimum viability, from which to test and develop.

• Prototype

• Tangible

• Variable Costs

• Stakeholder

A fee paid to an employee for completing a task.

• Salary

• Peice Work

• Commision

• Hourly Rate

Stage where business takes on new customers and generates a consistent income.

• Take off

• Survival

• Success

• Exit Plan

• Pivot or Persist

Stage where owners make a profit by selling their ownership in the company.

• Take off

• Survival

• Success

• Exit Plan

• Pivot or Persist

Stage where owners look to grow the company and may begin to pass on responsibility to others.

• Take off

• Survival

• Success

• Exit Plan

• Pivot or Persist

Observing and engaging with customers to gain their perspective.

• Empathy

• Define

• Ideate

• Prototype

Stage where a problem statement is formed.

• Empathy

• Define

• Ideate

• Prototype

Stage where owners determine whether to continue to grow the business or move on to a new project.

• Take off

• Survival

• Success

• Exit Plan

• Pivot or Persist