Chapter 11 Keywords:
Entrepreneurship: An entrepreneur identifies a need that no existing businesses addresses and determines a solution for that need.
Turn Key Systems: A computer system that has been customized for a particular application. The term derives from the idea that the end user can just turn a key and the system is ready to go. Turnkey systems include all the hardware and software necessary for the particular application. They are usually developed by OEMs (original equipment manufacturers) who buy a computer from another company and then add software and devices themselves. A turnkey solution is a type of system built end-to-end for a customer that can be easily implemented into a current business process. It is immediately ready to use upon implementation and is designed to fulfill a certain process such as manufacturing (in part or whole), billing, website design, training or content management.
Technology Levels: See slide 10. What is the cost perspective on each technology level.
How to Write a Business Plan: What's included in the plan, slide 13.
Industry Research: What kind of research is done for a business plan, slide 14.
Forecasting Financial Data: What is the order and content for financial forecasts, slide 19.
Breakeven Analysis: Break Even Analysis in economics, business, and cost accounting refers to the point in which total cost and total revenue are equal. A break even point analysis is used to determine the number of units or dollars of revenue needed to cover total costs (fixed and variable costs).
Financing a Startup: See videos on slide 24.
Related information on exam or quiz.