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3 years ago

Understand and explain the process of idea generation and validation

Business

1 answer:

natita [175]3 years ago

4 0

Answer:

Idea generation is the creative process or procedure that a company uses in order to figure out solutions to any number of difficult challenges. It involves coming up with many ideas in a group discussion, selecting the best idea or ideas, working to create a plan to implement the idea, and then actually taking that idea and putting it into practice. The idea can be tangible, something you can touch or see, or intangible, something symbolic or cultural.

Idea validation is the process of testing and validating your idea prior to launching your business name, tagline, product, service or website. This is like the research and development process big companies use to test product ideas before they’re released to the general public.

Idea validation can involve anything from information-gathering interviews to special landing pages on the web. The entire purpose is to expose the idea to your target audience before you build and release the final product.

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"Free" items only cost the company that gives them away.<br> O A.<br> True<br> OB. False

Semmy [17]

Answer:

A. True

Explanation:

8 0

3 years ago

Read 2 more answers

Which transaction would not necessarily be considered a related party transaction?

sukhopar [10]

Answer:

Payment of a bonus to the president

<h3>what is bonus calculation?</h3>

Bonus Calculation
For each half of the Company's fiscal year (January — June, and July — December) in which the Company meets its budgeted Billings and/or Operating Income targets, the President is eligible to receive an amount equal to 50% of his semi-annual salary as a bonus.

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6 0

1 year ago

The following three identical units of Item A are purchased during April:

Salsk061 [2.6K]

Answer:

<h2>Determination of Gross Profit and Ending Inventory: </h2>

<h3>a. First-in, First-out (FIFO) </h3>

1. Determination of Gross Profit:

Sales $403

Cost of Sales 68

Gross profit $335

2. Determination of Ending Inventory:

Apr. 14 Purchase 1 $73

Apr. 28 Purchase 1 75

Ending Inventory 2 $148

<h3>b. Last-in, First-out (LIFO): </h3>

1. Determination of Gross Profit:

Sales $403

Cost of Sales 75

Gross profit $328

2. Determination of Ending Inventory:

Apr. 2 Purchase 1 $68

Apr. 14 Purchase 1 $73

Ending Inventory 2 $141

<h3>c. Weighted average cost methods: </h3>

1. Determination of Gross Profit:

Sales = $403.00

Cost of Sales = 70.50

Gross profit = $332.50

2. Determination of Ending Inventory:

Ending inventory = 2 x $72.75 = $145.50

Explanation:

These three methods of inventory costing, FIFO, LIFO, and Weighted Average Cost Methods are techniques for assigning costs of products to the cost of goods sold and the ending inventory. They produce different results. FIFO assumes that units sold first are taken from the units purchased first, while LIFO assumes that units sold first are taken from the units purchased last. On the other hand, the Weighted Average Method uses the average cost to determine the cost to allocate to cost of sales and ending inventory. The average cost is obtained by summing the total inventory costs and dividing it by the units available for sale. Then this average cost is applied to the quantity sold and the quantity remaining to obtain cost of goods sold and value of ending inventory.

The cost of goods sold under the Weighted Average Method is based on the average cost of $70.50 ($68 + 73)/2. With the new purchase on April 28, the average cost now is $72.75 ($70.50 + $75)/2. The Weighted Average Method does not assume the use of FIFO or LIFO in disposing of stock. After the sale on April 24, the cost of the remaining unit is $70.50. With the purchase on April 28, the weighted average cost becomes as calculated above. Any other figure would have assumed that the April 28 purchase was done before the April 27 sale was recorded, which is illogical.

3 0

3 years ago

1. Discuss the relationship between data, information, and knowledge.

Margarita [4]

Answer:

Data are set of values or raw facts that are meaningless, Information is data that has been processed in some way or data that has been given a context. Knowledge is gotten from information by making rules to it. Knowledge always needs a rule.

Explanation:

(1) Data:

Data are a set of values or raw facts and figures.

Data are raw facts that are not useful because they lack relevance. the data can be words, numbers, images or sound

Information:

Information is either data that has been processed in some way or data that has been given a context or Examples of ways in which data can be processed are displaying the information clearly in a table, performing calculations, sorting the data.

Knowledge:

Knowledge is gotten from information by applying rules to it. knowledge always needs a rule.

Data, information and knowledge are three main building blocks that make up a much bigger picture.

Data is simply a description of something that is then saved but not in an orderly manner. Information is an organized data that is useful. Knowledge is that data/information that is organised and then processed to make a better understanding. It is known that the three components works together.

With data being the first in the process. once the data has been classified, recorded and stored, it can then go on to the next phase of information. once the information has been organised in an orderly manner then it moves to the final phase of knowledge.

(2) In the world, an information in an organization or most likely knowledge is one of the most important resources, organizational capacities are based after the specific competencies in sharing and integrating information and knowledge.

Thus, most systems and knowledge writing attempts are not successful. in some cases, where there is technological or IT deficiencies included, the purpose of sharing is rarely attained and even reaching relative success is not simple (Hislop, 2002). the change in advancement is a unique characteristic of this new modern era, referred to as the grow older of information.

Organizations of this modern age are faced with the challenges of active stability at various levels.

Today, organizations are faced with such extensive amount of information and relief of knowing that controlling and using them effectively has become one of their major concerns. Operator’s knowledge based.

3 0

4 years ago

The Constitution sets forth specific powers that can be exercised by the national government and provides that t national govern

g100num [7]

The Constitution sets forth specific powers that can be exercised by the national government and provides that the national government has the implied power to undertake actions necessary to carry its expressly designated powers under the Tenth Amendment, all other powers are expressly reserved to <u>the states</u>.

<u>Option: B</u>

<u>Explanation:</u>

The given points are showcasing the federal power, which act as rights within a federal government structure that are totally or conditionally excluded from the operation of each representative political entity. That is, either a local political entity can never practice such powers, or can do so only with the federal government's permission.

The United States' 10th Amendment Constitution interprets that the powers not granted by the Constitution to the United States, nor forbidden by it to the States, are secured for the States, or the individual, accordingly. This Amendment was adopted in 1791, incorporates Federalism's basic values in a parliamentary system of Government.

3 0

3 years ago