ENTREP RAHH‼️ Flashcards
(35 cards)
It is the process of developing, testing and commercializing a product or service with the ultimate objective of solving the problem of the primary target.
Product development
It is simply describes how a product or service works and how it benefits the customers.
Product description
It is a preliminary model or sample of a new product or service that is created to test a product concept or service process.
Prototype
This is an important part of the business plan because it simply states the details in operating the business.
Operations plan
It is the process of translating raw materials into finished goods that are acceptable to the customer’s standards.
Manufacturing
It represents the day-to-day operations of a business; the process to be followed in effectively manufacturing or
delivering a product or service.
Methods
It is a manufacturing where the entrepreneur can start with products that are usually manageable to be processed.
Home-based
It is the process of appointing a third party manufacturer.
Outsourcing
It is where the delivery of raw materials and finished goods will be conducted
Location
It controls the implementation of the business plan.
Operations management
It refers to a detailed flowchart of the service business.
Service blueprint
These are entrepreneurs who often buy products or services to the manufacturers and sell them at a markup price to either wholesalers or retailers.
Distributors
They don’t own the products or services because they do not buy these from the manufacturer.
Agents
It is the process of bringing the products or services to customers.
Distribution
These are experts or qualified employees an entrepreneur need that can handle operational functions.
Manpower
It enumerates the duties and responsibilities of the potential employee.
Job description
It details the potential salary and benefits that the employee will get.
Compensation and benefits
It is the “bestfriend” of manpower in producing goods and offering services; they go hand in hand.
Machines
It is the right to protect the entrepreneur regarding the product or service.
Patent
It is a place of storing the finished goods manufactures kin a facility until they are distributed to end users.
Warehouse
Before commercializing a new product or service, the entrepreneur must focus first on refining the product or service and validate its market acceptability.
True or False?
True
Creating a prototype is the stage where the entrepreneur can experiment, develop, and make some improvements in the potential product or service.
True or False?
True
The entrepreneur must plan the location, the processes, and the distribution of the products.
True or False?
True
The end user handles the invention, development, and production of the product or service.
True or False?
False
