What Is a Baseline? Give an Example of a Baseline

question 11

Essay

What is a baseline? Give an example of a baseline.

Understand the importance of visualizing product ideas through storyboarding and other methods.

Understand the concept of minimum viable product (MVP) and its importance in the entrepreneurial process.

Recognize the role of experimentation in validating business ideas and products.

Understand the use of pre-selling as a method to validate product demand before full development.

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Definitions:

Logistical Function

Refers to the planning, implementation, and controlling of efficient and effective flow and storage of goods, services, and related information.

Transactional Functions

The activities involved in the buying and selling process, including pricing, promotion, and distribution.

Logistical Functions

The process of acquiring, creating, and delivering goods and services in the appropriate amounts to the consumer or ultimate location.

Facilitating Functions

include activities that help in the smooth execution of transactions and exchanges in the marketplace, such as logistics, financing, and information provision.