Accounting is the process of recording financial transactions pertaining to a business. Th, Lecture notes of Accounting

Download Accounting is the process of recording financial transactions pertaining to a business. Th and more Lecture notes Accounting in PDF only on Docsity! Lesson 4 New en De aN ' aap) SUCCESSFUL NEW PRODUCTS SPRING FROM: The Creative Mind The Technical Mind designing and conceptualization tech originator, adaptor, & renderer The Business Mind Creation of Market space Note: Finding all the three minds on one single entrepreneur is seldom. But an Entrepreneur is surely . an orchestrator of the three minds. Which is why most entrepreneurs puts up a team. THE BUSINESS MIND Cte Seen endian Key Task: Harnessing Market Potential UO) Organizes forces to develop, launch, and commercialize the product. QO) Manages the external and internal environment of the new product, and continuously do so beyond development stage. THE LAMPTURN (el Boy ively LAMPTURN A desk lantern that reflects colorful and moving images into the lantern screen. As the lamp was lit, the heat of the lamp caused the lamp to turn. ck BUSINESS MIND TESTED They asked themselves this question: X Whowill be the best target market? X How to market the lamp? X Would the cost of the lamp provide sufficient profits? X Howto build a team and raise funds? 10 = ce nO Q = 2 v) 4 ag fe) 5 MINDSET AT WORK Creative Technical SAVISt [ae a mammnmmadiemmted APPEALS OF THE PRODUCTS: QO) AESTHETIC APPEAL OF THE LAMP | ‘THE LAMP WAS DESIGNED TO CREATE ELEVATES SELF-ACTUALIZATION MOOD, DELIGHTFUL AMBIANCE, AND DEPENDING ON WHAT EACH IMAGE IS FASCINATING VIEW. IT IS MEANT TO BE A CENTERPIECE OF THE ROOM. PROJECTED ON THE LAMP. QO A SENSORIAL—EMOTIONAL APPEAL HEIGHTENED IF THE LAMP IS USED ON DARK PLACES. IT WOULD DEFINITELY MAKE PEOPLE FEEL GOOD. 7