Process Model Flashcards
1
Q
Opportunity Asssessment
A
- Idea and concept development
- Reality testing
- Belief and behaviors
- Preliminary assessments all categories
- Is the opportunity real?
- Does it match the company’s strategic business plan?
- Do we have resources?
- Can we make a profit?
2
Q
Market Research
A
- Market strategy
- Market research
- Customer values
- Market size
- Consumer profiles
- What specific product or service?
- Marketing
3
Q
Competitive Assessment
A
- Who are the competitors?
- Competitors strategy?
- What their strengths?
- What are their weaknesses?
- Can they be overcome?
- Your strengths & weaknesses?
- Your competitive advantages
- Commonalitites?
4
Q
Strategy Development
A
- Assemble the team
- Match people’s strengths with tasks
- Assess current capacity of team
- Determine strategic elements: image, commitment, organization, approach, performance, price, experience, & past experience
- Conduct initial risk assessments
- Short term, long term, and start-up strategy
5
Q
Finance Development
A
- Cost Analysis - start-up, monthly
- 1-3 year budget projections
- Revenue projections
- Return on investment
- Minimize financial risks
- Equity and/or debt funding
- Full financed debt or equity
- Zero or no debt
- Limited or minimum capital
- Sweat equity
6
Q
Risk Assessment
A
- Identify all risk elements
- Reduce risk elements to low
- Minimize overall risk to everyone involved
7
Q
Technical Development
A
- What technology will be used?
- Is the technical infrastracture available?
- What are the physical infrastructure needs?
- Systems development process
- How will it be managed? Updated?
- Superior technology
- Unique features
- Connect systems development to strategy and risk plans
8
Q
Web Review
A
- Review as a user
- Does it accomplish what it set out to do?
- Ease of use, speed, purpose
- Feedback from consumers
- Follow-up, make improvements
- Preferred user experience
9
Q
Implementation/Launch
A
- Work the plan put into place with the process
- Company structure
- Legal environment
10
Q
On-going Innovation
A
- Out with the old and in with the new
- Exit Opportunities - as strategy determines or as opportunities present themselves
