The Practice of Hypothesizing,testing,and Validating to Create a Business Model

question 43

Multiple Choice

The practice of hypothesizing,testing,and validating to create a business model is called ______.

• A)scientific entrepreneurship
• B)evidence-based entrepreneurship
• C)business planning
• D)customer value planning

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Definitions:

Variable Cost Method

An accounting strategy where costs vary in relation to production or sales levels, focusing on costs that change with output.

Desired Profit

The amount of net income that a business aims to generate, set as a goal in financial planning and performance evaluation.

Desired Profit

The targeted amount of profit a company aims to achieve in a specific period.

Manufacturing Costs

Expenses directly related to the production of goods, including raw materials, labor, and overhead.