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Complete the definitions

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Competitor
Angel Investor
Entrepreneur
Net Income
Total Assets
Income Statement
Cash Flow Statement
Balance Sheet

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A person who sets up businesses or proceeds with an idea, taking on financial risk with the hope of making a profit
Measures a company's financial performance over a specific accounting period
Financial statement that summarizes a company's assets, liabilities and shareholders' equity at a specific point in time. It is a snapshot of the company's finances.
Companies with a product or service that addresses similar consumer needs
Revenues - Expenses
Total Liabilities + Shareholders' Equity
Shows how changes in balance sheet accounts and income affect cash and cash equivalents, and breaks the analysis down to operating, investing and financing activities
An affluent individual that provides seed capital for business start-ups

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Funding a new start-up:

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1
2
3
4
5
6
7

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Friends, family, neighbours
Expansion Capital
Seed/Hybrid Funds
Bank Finance
Real Venture Capital
Exit, IPO/Trade Sale, Stock Market
Co-Investment Funds, Business Angels, Grants

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What are the 3 basic objectives of a business plan?

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說明

A business plan is a document that explains and justifies the business concept, it is offered to banks, business angels and investors or partners in a joint venture.

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Where do we intend going

Where are we now

How do we get there

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What things should be included in a business plan?

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Financial projections

Risk analysis

Strategy

Cover page

Technology solution

Staffing heirarchy

Market problem

Competitor analysis

Protectable IP

Management team

Executive summary

Investment propositions

Market analysis

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Order the opportunities for the path to market:

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1
2
3
4
5
6
7
8
9
10
11
12

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Conclude your marketing strategy
Look at current organisational strengths and weaknesses internally and the opportunities and threats externally (SWOT analysis)
Look at the current external environment
Launch
Finalize product and price
Do market research
Complete the marketing mix - product, price, place, promotion
Feedback and control
Segment your market
Differentiate offering
Determine demand
Idea with a USP and there is a gap in the market

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Match the theories of motivation to their explanations:

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Victor Vroom's Expectancy Theory
McGregors's Theory X
McGregors's Theory Y
Jungian Theory
Alderfer's ERG Theory
Herzberg Theory

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Human relations management, in this theory, managers make assumptions that people in the work force are internally motivated, enjoy their labor in the company, and work to better themselves without a direct "reward" in return.These employees are considered to be one of the most valuable assets to the company, and truly drive the internal workings of the corporation. Also, these particular employees thrive on challenges that they may face, and relish on bettering their personal performance.
Motivation = Expectancy x Instrumentality x Valency
As you begin to satisfy higher needs, they become more intense. For example, the power you have may develop to wanting more power, and then it becomes an addiction.
Hygiene factors, absence motivates, presence not perceived. Motivators, absence doesn't cause dissatisfaction, just fails to motivate. Hygiene factors determine dissatisfaction and motivators determine satisfaction.
Scientific management, based on pessimistic assumptions of the average worker. This management style supposes that the average employee has little to no ambition, shies away from work or responsibilities, and is individual-goal oriented. Generally, this style of manager believes their employees are less intelligent than the managers are, lazier than the managers are, or work solely for a sustainable income.
Intuition and sensation project on to our personalities

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Order 'Maslow's Hierarchy of Needs' from the bottom of the pyramid to the top:

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2
3
4
5

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Safety
Love and Belonging
Self-Actualization
Esteem
Physiological

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Order Alderfer's theory:

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2
3

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Growth needs (development and competence and realisation of potential)
Existence needs (physical well being)
Relatedness needs (satisfactory relations with others)

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Order the product lifecycle:

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Maturity
Saturation
Introduction
Decline
Growth

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What is included in product differentiation?

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Your gap in the market

Marketing mix

Quality

USP

Customer Service

Market Research

Price

User Experience

Technology

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How do companies gather information

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Cold calling

Census

Loyalty cards

Loyalty cards

Sending out samples

Private market research