Business and Design Thinking Worksheet

Which situation would lead business to update safety procedures?

• increase finance cost

• Increase employee turnover

• decreased productivity

• Increase accidents

Which two are examples of fixed costs?

• Credit card payment

• Rent

• insurance

• Commissions

What is the order of the design thinking process?

• Empathize, Define, Ideate, Prototype, Test

• Define, Empathize, Prototype, Ideate, Test

• Ideate, Prototype, Empathize, Define, Test

• Test, Prototype, Ideate, Define, Empathize

Company wants to grow its customer base. What three marketing methods should they use? Choose 3.

• Use search engine optimization (SEO)

• Schedule speaking engagements

• Participate in trade shows

• Discontinue referral program

You need to invest in a business that has simple transactions, low inventory costs, and fast free delivery. Which type of business should you use?

• restaurant franchise

• digital products business

• cleaning business

Which of the following statements are true about business viability?

• Viable business must have investors

• Viable business must have potential for profits

• Business must make profit the first year in order to be viable

Company receives notice that rent will increase. Which budget would include the increase?

• Operating budget

• Start up budget

• Sales budget

• Capital budget

Fixed costs remain constant regardless of production levels, while variable costs:

• change with production volume.

• remain constant regardless of production levels.

• are always higher than fixed costs.

• do not affect total costs.

You own an e-commerce business selling dog food and toys using direct to consumer fulfillment model. Which two tasks should your company handle as part of the distribution model?

• Shipping

• Retail sales promotion

• Inventory storage

• Determining pricing

Your company wants to sell shirts with the local college logo. Which type of agreement would allow you to do this?

• Security agreement

• Indemnity agreement

• Licensing agreement

• Franchise agreement