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2 years ago

Understand and explain the process of idea generation and validation

Business

1 answer:

natita [175]2 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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Suppose that you open your own business and earn an accounting profit of $35,000 per year. When you started your business, you

Aleonysh [2.5K]

Answer:

B. minus$2,000.

Explanation:

The computation of the economic profit is shown below:

As we know that

Economic profit = Total revenue - Explicit costs - Implicit costs

= $35,000 - $30,000 - $7,000

= -$2,000

The implicit cost is come from

= $70,000 ×10%

= $7,000

We simply applied the above formula so that the economic profit could come

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2 years ago

Andermeyer Jewelers, which specializes in high-end jewelry, has been in existence since the 1870s and has served generations of

TiliK225 [7]

Answer:

A is the correct answer

Explanation:

Most small businesses use a simple organizational structure. In this, decision making is centralized with the owner. It doesn't have any formal departments and layers. There are both advantages and disadvantages of running the company with this structure. It enables the owner to keep tight control over the company's operation. No decisions can be made without the owner's approval and the owners of aware of every decision made. These companies make decisions quickly as there are no layers of management where the request needs to climb before approval.

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2 years ago

Vandel Inc. bases its selling and administrative expense budget on budgeted unit sales. The sales budget shows 5,900 units are p

Fantom [35]

Answer:

Given:

Sales budget = 5,900 units

Variable selling and administrative expense = $11.20 per unit

Fixed selling and administrative expense = $131,570 per month

Depreciation = $16,520 per month

Therefore, we'll compute cash disbursements for selling and administrative expenses using the following formula:

Cash disbursements = Variable selling and administrative expense × Sales budget + Fixed selling and administrative expense - Depreciation

Cash disbursements = $11.20 × 5,900 + $131,570 - $16,520

Cash disbursements = $181,130

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2 years ago

Read 2 more answers

The following information is provided for Sacks Company before closing entries. Cash $ 12,000 Supplies 4,500 Prepaid rent 2,000

RideAnS [48]

Answer:

b. $78,500

Explanation:

Assets

Equipment $65,000

Cash $12,000

Supplies $4,500

Prepaid rent $2,000

Total Assets $83,500

Equity and Liabilities

Common stock $68,000

Retained earnings $10,500

Total Equity $78,500

Accounts payable $5,000

Total Equity and Liability $83,500

*Working

Net Profit = Service revenue - Salaries Expenses - Miscellaneous expenses

Net Profit = $30,000 - $4,500 - $20,000 = $5,500

Total retained Earning = $8,000 + $5,500 - $3,000 = $10,500

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2 years ago

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devlian [24]

Answer: did you try logging in if so try to contact brainly by email

Explanation:

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