Question

In: Operations Management

DEFINITION OF TERMS: MATCHING A. Risk Tolerant A. Infrastructure B. Risk Averse B. Reactive Management C....

DEFINITION OF TERMS: MATCHING

A. Risk Tolerant	A. Infrastructure
B. Risk Averse	B. Reactive Management
C. Proactive Management	C. Sustained Competitive Advantage
D. Stages of Growth of a Firm Model	D. Proof of Concept
E. Entrepreneur	E. Monetization

88. The “internals” of a system or structure, such as the sewage, road, and electric systems of a city.

89. Making money out of an idea. The process of turning an idea into a way to make money.

90. When someone “is not willing to take risks”.

91. When someone “is willing to take risks”.

92. A person who starts a completely new business or a new way of doing work.

93. A possible goal of a Prototype, it shows that the goal of the endeavor is attainable.

94. When one’s approach to life and management is to not wait for the other side to act (or for things to happen) before

you get into action yourself; but to act before the other side has does anything: this forces them to react to you!

95. A useful diagram of the typical life of a new company or product.

96. When one’s approach to life and management is to wait for the other side to act (or for things to happen) before you

get into action yourself.

97. Keeping a competitive edge you have over your competition going over time.

Expert Solution

PART 1

A-RISK TOLERANT-WHEN SOMEONE “IS NOT WILLING TO TAKE RISKS

B-RISK AVERSE-. WHEN SOMEONE “IS WILLING TO TAKE RISKS

C- PROACTIVE MANAGEMENT- WHEN ONE’S APPROACH TO LIFE AND MANAGEMENT IS TO NOT WAIT FOR THE OTHER SIDE TO ACT (OR FOR THINGS TO HAPPEN) BEFORE YOU GET INTO ACTION YOURSELF; BUT TO ACT BEFORE THE OTHER SIDE HAS DOES ANYTHING: THIS FORCES THEM TO REACT TO YOU

D-STAGES OF GROWTH OF A FIRM MODEL- A USEFUL DIAGRAM OF THE TYPICAL LIFE OF A NEW COMPANY OR PRODUCT.

E-ENTREPRENEUR-A PERSON WHO STARTS A COMPLETELY NEW BUSINESS OR A NEW WAY OF DOING WORK.

PART 2

A-INFRASTRUCTURE- THE “INTERNALS” OF A SYSTEM OR STRUCTURE, SUCH AS THE SEWAGE, ROAD, AND ELECTRIC SYSTEMS OF A CITY.

B- REACTIVE MANAGEMENT-WHEN ONE’S APPROACH TO LIFE AND MANAGEMENT IS TO WAIT FOR THE OTHER SIDE TO ACT (OR FOR THINGS TO HAPPEN) BEFORE YOU GET INTO ACTION YOURSELF.

C-. SUSTAINED COMPETITIVE ADVANTAGE-KEEPING A COMPETITIVE EDGE YOU HAVE OVER YOUR COMPETITION GOING OVER TIME

D-PROOF OF CONCEPT-A POSSIBLE GOAL OF A PROTOTYPE, IT SHOWS THAT THE GOAL OF THE ENDEAVOR IS ATTAINABLE.

E-MONETIZATION- MAKING MONEY OUT OF AN IDEA. THE PROCESS OF TURNING AN IDEA INTO A WAY TO MAKE MONEY.

keosha answered 7 months ago

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