business terms #2

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Across
  1. 2. One type of adopter in Everett Rogers’ diffusion of innovations framework describing the risk adverse group that follows the late majority that is generally not interested in new technology and are the last group of customers to buy.
  2. 5. An intermediary that buys from producers to sell to retailers and offers various services with that function.
  3. 7. The practice of simultaneously distributing products or services through two or more marketing channels that may or may not compete for similar buyers.
  4. 8. The concept that if a venture can just get “2%” of total market share it will be successful. This percentage can be unattainable based on the approach, limited resources, and/or structure of the industry.
  5. 10. Examples of mini, maxi,and non-media tools: Mini: canvassing, personal letters, calls, circulars, brochures, classified ads, Maxi: yellow pages and signs Non-Media: public relations, advertising.
Down
  1. 1. The undesirable tradeoff where sales of a new product or service decrease sales from existing products or services and minimize or detract from the total revenue contribution of the organization.
  2. 3. Venture capital nowadays is used two ways, first, people often take venture capital as any investment capital obtained through private investment or public investment funds directed to high-risk and high-potential enterprises. Second, within the more informed and sophisticated business circles, venture capital is defined more narrowly as investment money coming from the mainstream venture capital firms, a few hundred major firms, different from investment money from other private investors, angels, etc. For example, the www.bplans.com web tool that recommends investment strategies treats venture capital in this second way, mainstream venture capital investors, as opposed to angel investors, SBIC companies, banks, or friends and family. A venture capitalist is a professional manager of a venture capital fund.
  3. 4. The principal where an entrepreneurial venture may find that it has significantly changed it’s focus from the initial concept of the venture as it has continually responded and adapted to it’s market and the desire to optimize profitability potential.
  4. 6. Standard accounting practice allows the accounting year to begin in any month. Fiscal years are numbered according to the year in which they end. For example, a fiscal year ending in February of 1992 is Fiscal 1992, even though most of the year takes place in 1991.
  5. 9. Porter’s model that considers these forces as they impact and industry and the overall competitive climate: 1) Risk of entry by potential competitors 2) Bargaining power of suppliers 3) Bargaining power of buyers 4) Threat of substitute products 5) Rivalry among established firms.