what is innovative

• Being adventurous and has a risk-taking personality

motivate and lead their employees to success.

works tirelessly

the cornerstones of any successful business in the long term.

• competitive by nature and thrives in such situations of

pressure.

expect some failures and roadblocks along the way.

• abilities an executive should possess to fulfill specific tasks in an organization.

• leads his subordinates makes sure everyone that his team is going

• clear communication and the instructions are well understood by the employees

• ability to communicate with customers and provide them what they need

• ability to manage financial cash flows as to when to purchase such materials for the company

• ability analyze the problem and to find the best solution 

ability to think logically using all available data and resources to produce best solutions.

Strategic thinking and planning skills

• know-how of the managers, knowledge, and skills obtained through years of studies and experience.

• skills can help you to get your projects done on time

• all about presenting the product and company to customers

Exchange of information and ideas among people

• must be firm in making decisions

 have a convincing power towards his subordinates

ability to lead his subordinates with charisma

ability to be the first to see business chances.

preparing for possible future problems.

courage to pursue their business ideas

do not stop improving and thinking of new worthwhile ideas for their business.

• creation and operation of an enterprise

legal name of the business ex. San miguel corporation

Ideal number of colors in logo

Comfort

• more attention oriented hence aim

• triggering strong passion and promoting general excitement.

calm feelings

serious

something that is created by man

object that can be perceived by touch

• They can often not be seen, tasted, felt, heard, or smelled before they are purchased

• winning over consumers through merchandising appeal

• riskiest strategy for a new firm; product and the market are unknown  Requires research and planning

  
  

• good or services involves identifying a current customer

focused portion of the broader market; establishing a niche market helps business gain 

Process of breaking down the target market into smaller, manageable groups; focus to specific customer who needs their products

• all information from customers data collected are all facts

• elated to their personalities and characteristics

Ex. Personality, Values, Attitudes, Interest, Lifestyles

• action on how customer interacts to the brands or other activities

• where customers live. Ex. Location, Population, and climate

British psychologist, explains that problem solving can influenced by three personality traits

unique solutions to problems

• following established methods and procedures

• who prefer to work within existing structures and frameworks

• They thrive on creating novel solutions and thinking outside the box.

• Brainstorm and gather ideas from various sources

• identify market needs, target audience, and competitors.

• Develop a clear product concept that outlines the key features, benefits, and unique selling points.

• detailed project plan that includes timelines, resources, and budget

• Ensure alignment with key stakeholders, including management, marketing, sales, and production teams.

• Develop detailed product designs, including sketches, prototypes, and technical specifications

Document all technical specifications and materials

• to ensure the product meets all required standards

allows them to get the best deal for their money

•  A critical factor as superior taste can set a business apart from competitors.

sellers sell based on customer’s needs

strategy used to communicate the value of a product or service

•  involved in the delivery of a product or service; who interact with customers; The human factor involved in the delivery.

• procedures, mechanisms, and flow of activities by which the service is delivered

 tangible component that customers see; This includes the physical environment and facilities.

1. Things your company does well.

Things your company lacks.

Underserved markets for specific products.

1. They are the most important component in the operation of a business. The people who worked in the company. The one who operates in the production. And the one who utilizes the materials to create goods.

1. The modern technology that is used in the business because it is efficient and economical in the process of production. It lessened the number of labor producing a precise and constant output that can be operated by a single worker.

1. These are the ingredients or components in producing or creating a product. The resources that are regularly used to make sure that the business continues its operations.

1. These are the techniques, approaches, or the procedures or operations of the business.

• A replacement of the original but it refers to some qualities of your product.

• A form of innovation in the market where you combine 2 different products.

• Adapting the ideas from competitors and implementing these ideas to make your product adapt to the requirements of your customers.

• Use the product differently other than its original purpose.

There are products that can be innovated by rearranging its design, features, or by process.

1. Product validation ensures you’re creating a product people will pay for. It is important to validate that the idea is new and genuine.

1. It is important to carefully plan the details of the product before proceeding to its prototype. Start with the hand drawing sketch of what the product looks like, then adjust with the detail of the design and label its parts and features.

1. The prototyping phase during product development is to create a finishes product to be used as a sample for mass production.

1. Building your supply chain for gathering the materials and securing the partners needed for your production.

1. Determine the principal price of the materials used in the production. The percentage of mark-up or profit will be based on how scarce the materials are.

1.  Identify who is the right customer. Narrow the audience down to two or three detailed categories of a buyer. Try to identify its buyer’s demographic.

1. Business processes are vital in the business cycle. Providing and delivering the service or product to customers is essential to win valued customers.

1. Establishing exactly what your business offers. Enlisting the list of its features. Link each one to a service or product delivery system to determine how you will remain valuable to customers over time.

• It is a technique that uses historical data as inputs to make informed estimates that are predictive in determining the direction of future trends. It is used to determine how to allocate their budgets or plans for anticipated expenses for an upcoming period of time.

1. It shows the assets , liabilities and owner’s equity of a business at a particular date. The main purpose of preparing a balance sheet is to disclose the financial position of a business enterprise at a given date.

French word “entreprende” means.....

1. This includes cash and all assets that can be converted into cash. It is expected to be consumed within a short period of time - usually one year. (Ex. Cash, cash equivalents, account receivables, advance payments, short-term investments, inventories).

1. All assets that are not listed as current assets. (Ex. Long-term investments, equipment, plant and machinery, land and buildings, intangible assets).

1. Obligations that are expected to be met within a period of one year.

1. The balance sheet is divided into left and right sides like a T-Account. The assets are listed on the left-hand side, whereas both liabilities and owners’ equity are listed on the right-hand side of the balance sheet.

1. The balance sheet elements are presented vertically. Assets section is presented at the top. Liabilities and owners' equity sections are presented below the asset section.

1. It is used to analyze the changes in account balances.

• The first section of the worksheet that explains the changes in all balance sheet account balances.

1. It is used to collect information to be disclosed in the statement of cash flows.