Entrepreneurship and Business Flashcard

Front

What is an entrepreneurial opportunity?

Back

A situation where a business can create value through innovation

Front

Definition of a "problem" in business?

Back

A challenge or obstacle that needs a solution

Front

Pain point

Back

A critical issue or difficulty faced by customers

Front

Solution (in business context)

Back

The resolution to a problem or pain point

Front

What is brainstorming?

Back

A group activity for generating ideas and solutions

Front

What is mind mapping used for in problem-solving?

Back

To visualize relationships between ideas

Front

What does SCAMPER stand for in idea generation?

Back

Substitute, Combine, Adapt, Modify, Put to another use, Eliminate, Reverse

Front

What does "rapid fire brainstorming" emphasize?

Back

Generating as many ideas as possible in a short time

Front

What does "role-storming" involve in idea generation?

Back

Using a customer’s point of view to generate ideas

Front

What makes a business idea "desirable"?

Back

It appeals to customers' needs and wants