You and some classmates are working on a group project and cannot decide which aspect of a case study should be includod in a report. You decide to have each group member present their ideas, dicuss the ideas, then vote on the one they want to use. This technique is called the intuitive decision making nominal group technique rational decision making model bounded rationality model of groups
Answers
The technique you are describing is called the "Nominal Group Technique" (NGT). The NGT is a structured decision-making process used to generate and prioritize ideas within a group. It encourages equal participation and allows each group member to present their ideas without influence from others initially.
The steps involved in the Nominal Group Technique typically include:
1. Idea Generation: Each group member independently generates their ideas or solutions related to the problem or case study. This ensures that all perspectives are considered.
2. Idea Presentation: Each group member presents their ideas to the group, one at a time, without discussion or debate. This allows everyone to hear each idea clearly.
3. Idea Clarification and Discussion: After all ideas have been presented, the group engages in a structured discussion to clarify and better understand each idea. This may involve asking questions, seeking clarification, or sharing thoughts on the presented ideas.
4. Idea Ranking or Voting: Once all ideas have been discussed, the group can proceed to rank or vote on the ideas to determine the preferred option. This can be done through a formal voting process or by using consensus-building techniques.
By following the Nominal Group Technique, the group aims to ensure that each member has an equal opportunity to contribute, promotes individual thinking and creativity, and reduces the influence of dominant personalities within the group. This structured approach helps facilitate a fair and objective decision-making process.
It is worth noting that the NGT is just one approach to decision-making in group settings, and other techniques such as the rational decision-making model or bounded rationality model may also be applicable depending on the context and complexity of the case study.
Learn more about Nominal Group Technique here:
https://brainly.com/question/32217431
#SPJ11
Related Questions
A type of account in which interest is earned on the deposit amount that typically require a
minimum balance, offer lower interest rates, and have restrictions on the number of withdrawals
allowed within a given time period is a
Answers
how can businesses influence motivation?
Answers
Employees are more likely to be motivated when they are included and satisfied in all or most of these areas.
Inspiration factors remembered for Hertz berg's hypothesis incorporate the actual work, development, acknowledgment, progression, accomplishment and obligation.
Motivation in the workplace rises when goals are set and met, expectations are clear, feedback is given, and management is encouraged. It thrives in a positive workplace, which is the reason such countless pioneers need to learn better approaches to spur their labor force.
Inspirations like advancements make a drive for representatives to work to the best of their capacities. In that capacity, inspiration in an association will prompt an expansion in the efficiency of a worker, who will offer more contrasted with a demoralized representative
Learn more about business motivation:
brainly.com/question/31035781
19. Which medium has the advantage of moving images, sound, and portability in business?
*
(1 Point)
Newspapers
Transit Media
Internet
Radio
Answers
Answer:
Internet
Explanation:
Newspapers can be online, but they are originally on paper, transit media is on billboards or the sides of cars, and the radio is definitely not it.
When you put a check you received in the bank, you have immediate access to the money.
True or False.
Answers
Answer:
this is true hope this helps
Explanation:
The "equal benefit or equal cost principle" is part of which Act?A) The Older Workers Benefits Protection Act (OWBPA)B) The Americans with Disabilities Act (ADA)C) The Employee Retirement Income Security Act of 1974 (ERISA)D) The Fair Labor Standards Act of 1938 (FLSA)
Answers
The "equal benefit or equal cost principle" is part of the Employee Retirement Income Security Act of 1974 (ERISA).
This principle requires that any employee benefit plan offered by an employer must provide equal benefits or impose equal costs on all participants regardless of their age, gender, or other protected characteristics.
ERISA is a federal law that sets minimum standards for most voluntary pension and health plans in private industry to protect the interests of participants and their beneficiaries.
It also requires employers to disclose important information about their benefit plans, including funding, vesting, and participation requirements.
To know more about Employee Retirement Income Security Act click on below link:
https://brainly.com/question/8656779#
#SPJ11
What are the business reasons for paying dividends and what are the risks of not paying dividends?
Answers
Answer:
When a company decides not to offer a dividend, it keeps more money for its own operations. Instead of rewarding investors with a payment, it can invest in its operations or fund expansion in hopes of rewarding investors with more valuable shares of a stronger company.
Explanation:
What should you do before and after each study session? play your favorite game on your phone so you are relaxed. reach out to your friend to ask questions. review your notes to help you remember the important topics. take a long nap so you are well rested.
Answers
Answer:
Review your notes to help you remember the important topics
Explanation:
Reviewing your notes before and after a study session can help you apply the information to your long-term memory.
To examine
the weekly payroll of all employees, one would look at the:
Answers
To examine the weekly payroll of all employees, one would look at the: d. payroll register.
What is the payroll register?The payroll register is a book or record that is used to fill in the details of all the employees and their payment logs. A record of this register is often kept in good condition in case of any future discrepancies that will have to be resolved.
A person who wants to examine the weekly payroll of all employees in an organization must be able to look at the payroll register to know what is obtainable. There, he would find the names of the employees, their job roles and payment record.
Options:
a. W-4
b. employee earnings record
c. W-2
d. payroll register.
Learn more about the payroll register here:
https://brainly.com/question/24265652
#SPJ1
A typical Keynesian aggregate supply (AS) curve _______________ and a typical Keynesian Phillips curve _____________.
Answers
Answer:
1. Slopes upward
2. Slopes downward
Explanation:
Keynesian aggregate supply is an economic model that depicts a curve is upward sloping as a result of low elasticity of wages and prices in the short-run.
On the other hand, the Keynesian Phillips curve is a graphical representation of an economy, whereby there is downward sloping of the curve, which indicates the tradeoff between unemployment and inflation.
Hence, the right answer is a typical Keynesian aggregate supply (AS) curve SLOPES UPWARD and a typical Keynesian Phillips curve SLOPES DOWNWARD
Atman sets the goal for his sales team to increase revenue by 40%. Which main function of a manager does this demonstrate?
Answers
Answer:
Planning
Explanation:
Planning is one of the major functions of a manager. The others are organizing, leading, and controlling.
Planning involves setting an organization's goals and objectives and putting in measures to achieve them. A manager must select the best option for achieving the set goals. Planning will include allocating human and other resources in areas they are best suited and setting timelines for completing critical tasks. The planning role requires managers to delegate responsibilities, set priorities, and check on progress to ensure the organization is on track in meeting its goals.
suppose that a society begins at a point inside its production possibilities frontier (ppf) and then ends up at a point on the same ppf. which of the following could have caused such a change? a. the society started out using all its resources, but then allowed some of its resources to become unemployed. b. the society developed an improvement in technology. c. the society had some unemployed resources to begin with, but then started using all its resources. d. the society experienced an increase in the quantity of resources available.
Answers
Suppose a society begins at a point inside its PPF and ends up at a point on the same PPF. Such a change would be caused by the society which had some unemployed resources to begin with, but then started using all of its resources.
The Production Possibilities Frontier (PPF) tends to show all the different combinations of output of two goods which can be produced while using available and unemployed resources and technology.
Suppose if there is increase in the availability of the resources in the economy then automatically the overall output in the economy will increase which will shift the PPF to the right.
Hence, option C is correct.
To learn more about PPF here:
https://brainly.com/question/28131069
#SPJ4
if braun introduced a new electric razor that sonically removes hair and priced it first at $175 and then at $150 before reducing the price to $100, the firm's initial pricing strategy is known as a. price lining. b. psychological pricing. c. odd-even pricing. d. price skimming. e. penetration pricing.
Answers
The firm's Initial price Strategy is known as Skimming Price .
What is Skimming Price ?When a product is first introduced to the market, its price is set relatively high for a set period of time. As time goes on, however, the corporation lowers the price of that specific product, a practice known as skimming.
In a day where new items are released on a daily basis, this method helps the product stay in the market for a long time since, as time goes on, the price of the specific commodity drops and consumers can still purchase it at a much cheaper price.
According to the given information
We get
If Braun introduced a new electric razor that removes hair acoustically and initially priced it at $175, then at $150, and finally at $100, the company's initial pricing approach is referred to as Skimming Price
To know more about Skimming Price
https://brainly.com/question/14057014
#SPJ4
Which set of costs reflect the tradeoff of economic order quantity (EOQ)?
A. ordering and carrying costs
B.
fixed and variable costs
C. marginal and utility costs
D.
marginal and semi-variable costs
Answers
1a) in the neo-classical model, the level of employment is determined by the level of aggregate demand.
Answers
In the neo-classical model, the level of employment is not primarily determined by the level of aggregate demand. Instead, the level of employment is primarily determined by the supply side factors, specifically the interaction of labor supply and labor demand in the labor market.
According to the neo-classical model, the level of employment is determined by the equilibrium between the quantity of labor supplied by individuals and the quantity of labor demanded by firms. Labor supply is influenced by factors such as population size, demographics, and individual preferences, while labor demand is influenced by factors such as productivity, technology, and the cost of labor.
In this model, the wage rate plays a crucial role in determining the quantity of labor supplied and demanded. As the wage rate increases, individuals may be incentivized to supply more labor, while firms may demand less labor due to higher labor costs. Conversely, a decrease in the wage rate may result in increased labor demand and reduced labor supply.
Aggregate demand, on the other hand, primarily affects the overall level of economic activity and output in the neo-classical model, rather than directly determining the level of employment. Changes in aggregate demand can lead to fluctuations in output and overall economic growth, but the labor market adjusts based on the underlying supply and demand dynamics.
It's important to note that there are alternative economic models, such as Keynesian economics, where aggregate demand plays a more prominent role in determining the level of employment. However, in the neo-classical model, the level of employment is primarily determined by the interaction of labor supply and labor demand, with aggregate demand influencing the overall economic conditions.
for more such questions on labor market
https://brainly.com/question/25715806
#SPJ11
What component of GDP would a consumer buying a new house affect?
O government spending
O net exports
investment
O consumer spending
Answers
Answer:
Explanation:
A: the government is not buying the home. You are. Not A
B: The house is not being moved on any soil but American Soil. Not B
C: You could argue that a home is an investment, but not to the GDP. The answer is not C.
D: GDP would call this consumer spending.
Answer:
consumer spending
This is because, consumer spending is the same as personal consumption expenditure
When a site is unsafe, it means a. Your personal information may be used in ways you do not want c. Permission to use that site at school is always allowed b. That site is okay to visit often d. All of the above Please select the best answer from the choices provided A B C D
Answers
Answer:A, Your personal information may be used in ways you do not want
Explanation:
If it is a unsafe site than there for your personal information can go places you do not want them to.
When a site is unsafe, it means your personal information may be used in ways you do not want. Thus, option 'A' is the correct option.
What does it mean when a website is unsafe?External connections to websites with phishing, malware, or unwanted software are known as unsafe domains. Phishing is when a website imitates another one in an effort to fool visitors into divulging personal or financial information. When you visit an insecure website, you run the risk of having your personal information compromised and/or having malicious malware installed on your system.
Additionally, you can fall prey to a phishing attack, or someone else might watch your activity or use your resources for their own gain. If the content you're seeking to view is harmful or misleading, a warning will appear. These websites are frequently referred to as phishing or virus sites. If you clicked on a phishing link, the first thing you should do is immediately unplug your device from the internet.
Learn more about the unsafe website, here:
https://brainly.com/question/27871014
#SPJ5
True or false: a manager's self-appraisal is the most accurate source of information regarding leadership strengths and weaknesses
Answers
False. A more reliable or accurate source of information or appraisal about one's strengths or weaknesses in one that comprises ratings from different people.
What is Self-Appraisal?This simply is the act of evaluating one's own performance, abilities, results, progress, or achievements in relation to an agreed or established standard.
Blind spots usually create limits to which one can achieve an objective and accurate self-appraisal.
See the link below for more about Self Appraisal:
https://brainly.com/question/5301322
The organization that is primarily responsible for developing GAAP for use by all U.S. companies is the:
Answers
Answer:
C. FASB
Explanation:
The FASB refers to the Financial Accounting Standards Board that is an independent non profit organization who is responsible for developing accounting and finance related standards for reporting with respect to companies and non profit organization in the United states that followed GAAP
So as per the given situation, the option C is correct
Automatic stabilizers lead to changes in taxation and government spending as economic output varies. How do automatic stabilizers impact tax revenue and government spending during a recession?
Tax revenue will (increase / decrease / not change) and government spending will (increase / decrease / not change).
Suppose that the government is required to balance the budget. Which of the following is an appropriate discretionary approach during a recession and what effect would it have to the economy?
a. Cut taxes to encourage consumer spending which would minimize the effects of the recession.
b. Increase government spending to stimulate the economy causing an increase in overall aggregate demand.
c. Cut government spending to equal tax revenue possibly magnifying the effects of a recession.
d. Invest in public infrastructure that promotes employment and stimulates the economy.
e. Increase both government expenditures and taxes by the same amount.
Answers
Options a, c, and e, which involve cutting taxes, cutting government spending, or increasing both expenditures and taxes, can be counterproductive during a recession.
During a recession, automatic stabilizers have the following impact on tax revenue and government spending:
Tax revenue will decrease: As economic output decreases, individuals and businesses earn less income, leading to lower tax payments. This decline in tax revenue is primarily due to reduced income taxes and corporate taxes.
Government spending will increase: Automatic stabilizers, such as unemployment benefits and welfare programs, automatically expand during a recession as more people become unemployed or experience financial hardship. This increase in government spending is intended to provide support to individuals and stimulate economic activity.
Therefore, tax revenue will decrease, and government spending will increase during a recession due to the operation of automatic stabilizers.
If the government is required to balance the budget during a recession, the most appropriate discretionary approach would be:
b. Increase government spending to stimulate the economy, causing an increase in overall aggregate demand.
By increasing government spending, especially on infrastructure projects, the government can directly inject funds into the economy, creating jobs and boosting economic activity. This stimulates aggregate demand, leading to increased consumption and investment, and potentially helping to lift the economy out of recession.
Options a, c, and e, which involve cutting taxes, cutting government spending, or increasing both expenditures and taxes, can be counterproductive during a recession. Cutting taxes may not effectively encourage consumer spending if people are facing financial uncertainty, while cutting government spending may further exacerbate the recessionary pressures by reducing overall demand. Increasing both expenditures and taxes simultaneously may not provide the desired stimulus to the economy.
Option d, investing in public infrastructure that promotes employment and stimulates the economy, aligns with the idea of increasing government spending to boost economic activity. This approach can create jobs, enhance productivity, and have positive multiplier effects on other sectors of the economy.
It's important to note that the appropriate approach may vary depending on the specific circumstances and economic conditions of a country. Economic policymakers need to carefully consider the effectiveness and impact of different measures when addressing a recession.
To learn more about recession, here:
https://brainly.com/question/31926163
#SPJ11
describe and evaluate one study of compliance
Answers
Answer:
In studying compliance, social psychologists aim to examine overt and subtle social influences experienced in various forms by all individuals. Implicit and explicit psychological processes are also studied since they shape interactions.
The experimental analysis of compliance has focused primarily on three multiple request procedures: (1) the foot-in-the-door technique, (2) the door-in- the-face technique, and (3) the low-ball technique.
Figure 6 depicts the four types of compliance behaviour (deliberately compliant, accidentally non-compliant, accidentally compliant and deliberately non-compliant) and the contribution that intention and/or administrative effectiveness provides to the performance of the behaviour.
Hope this helps!
Don't forget to mark me as Brainliest.
In the fives C’s, how is cost different from price?
At includes the company's operating costs
Bit makes it easier to promote the product
It reduces the company's operating expenses
Dit includes all of the costs related to the product
Answers
Answer:
it includes all of the costs related to the product
Explanation:
in fives C, cost represent the total value of economic sacrifice that a business have to made in order to create the product. It includes things like the cost of materials, the amount of salary that need to be made to pay the employees who made it, the amount of money needed to operate machines to make it, etc.
Price on the other hand, is the amount of payment / compensation that the business expect from customers in exchange of obtaining the product. As a general rule to generate a profit, the Total price need to exceed the amount of cost of that product.
Disadvantages of choosing a job that is extremely popular or in demand
Answers
The disadvantage of choosing a job that is very popular or a job that is in high demand is that after a while such a job may become saturated or it would become monotonous.
What is a high demand job?This is the term that is used to refer to a job that the people that wpould employ labor are constantly in need of. Such a job is one that would require the people that have the qualification to opt in and get the places and the roles that they are to fill.
The issues that may arise from such a job that is in high demand is that after a period, such a job may have a lot of persons that would want to fulfil the role.
The number of qualified persons may become more than the job that is available for the people to do in the long run.
Hence this is a disadvantage. Therefore I would conclude by saying that the disadvantage of choosing a highly popular job is that the number of persons that are willing to fulfil the role may exceed the job overtime.
Read more on jobs here: https://brainly.com/question/26355886
#SPJ1
Eric, after listening to you talk about surpluses, investing and being smart with money, is thinking about how much he would save in interest on his car loan if he paid $50 dollars extra each time he paid his car note. To get this information, eric would need what type of schedule to show him the impact of his extra payments?.
Answers
Eric needs an amortization schedule to show him the impact of his extra payments.
Explain amortization schedule.A table that displays a mortgage's regular payments over time is called an amortization schedule. You can keep track of how much is still owed on your mortgage and determine how much goes to interest by using a mortgage amortization plan.
Amortization is the process of repaying debt in a series of regular payments. Each payment has a principal portion that goes toward the loan balance and an interest portion. The amount put toward the principal increases progressively month after month as the debt amortizes. You can see how much money you pay in principal and interest over time in an amortization schedule.
To learn more about amortization schedule, visit:
https://brainly.com/question/19755003
#SPJ4
In the acronym SMART, what does the “M” stand for?
Material
Mental
Maintainable
Measurable
Answers
Answer:
measurable
Explanation:
defining a hypothesis
3. What is something valuable that the lender can take as payment if you can't or don't repay your secured loan?
a. Amortization
b. Collateral
Down Payment
C.
d. Credit Card
Answers
Good luck hope this helps
:))
4. Use the Internet to find an online job posting. Try searching a site like careerbuilder.com or monster.com. Then complete the items below. a. List the link to the posting. (1.0 point) b. List at least two requirements of the job. Complete sentences are not necessary. (2.0 points) c. List at least three tasks that are a part of the job. Complete sentences are not necessary. (3.0 points) d. Write 1-2 sentences explaining why or why not this job would be a good fit for you (2.0 points)
Answers
Answer and Explanation:
Hello. Brainly does not allow links to be placed in responses, which makes it impossible for me to answer your first question. However, you can find this job vacancy in the careerbuilder when searching for Internet / BDC Director.
Two requirements that this job vacancy requires of possible candidates are: Knowledge of management of social networks and experiences with online sales.
The individual who is interested in this job vacancy, if hired, will have to carry out online and face-to-face sales, perform administrative functions and perform customer service whenever necessary.
This job is not a good option for me, because I have no experience in sales, but this is a very promising job vacancy, with a fair salary and benefits, I believe that if I had the requirements, I would do very well in this type of job.
Answer:
1. https://www.careerbuilder.com/job/J337WK6Y75401Z09WZ9
2. · Ideal to have 1 year experience as a pharmacy technician coordinating activities in an administrative support function.
· Must have valid Pharmacy Technician License
3. Working with patients to explain and educate on medical questions
· Tracking and logging vaccination details into EMR (electronic medical records system)
· Assisting Pharmacist as needed
4. This job would be a good fit for me, because I am compassionate, patient, and pay attention to detail. My mathematical skills are excellent, and like working with a team of health care professionals.
Explanation:
Which function identifies prospects in the marketplace, works with research and development to create products, develops promotion strategies, and establishes prices?
Answers
The function that identifies prospects in the marketplace, works with research and development to create products, develops promotion strategies and establishes prices is known as Marketing.
What is Marketing?It refers to the process of creating, distributing, pricing and promoting goods, services in order to facilitate satisfying exchange relationships with customers and develop and maintain favorable relationships with stakeholders in a dynamic environment.
Read more about Marketing
brainly.com/question/25369230
#SPJ1
1. Why must managers concentrate on planning before directing employees to their assigned tasks?
Answers
Answer:Planning is an important part of the work of project managers. These specialists determine what needs to be done, who will do it, how long each task will take, and how much it will cost. Based on this information, project managers develop a detailed work plan, prepare a schedule, and prepare a budget.
Explanation:
The project manager assesses the amount of work needed, analyzes the possible workload of the team, determines the timing of tasks and creates a clear plan for the project.
a+stock+will+pay+no+dividends+for+the+next+6+years.+then+it+will+pay+a+dividend+of+$6+growing+at+2%.+the+discount+rate+is+7%.+what+should+be+the+current+stock+price?
Answers
The approximate current stock price should be around $46.275.
To calculate the current stock price, we need to determine the present value of the future dividends. We can use the dividend discount model (DDM) for this calculation.
The DDM formula is as follows:
\(P = D1 / (1 + r) + D2 / (1 + r)^2 + ... + Dn / (1 + r)^n\)
Where:
P = Current stock price
D1, D2, ..., Dn = Future dividends
r = Discount rate
In this case, the stock will pay no dividends for the next 6 years, and then it will pay a dividend of $6 growing at 2%. The discount rate is 7%.
Let's calculate the present value of the future dividend:
D1 = $6
r = 7%
Now we need to calculate the present value of the dividend at year 6 (D6):
\(D6 = D1 * (1 + g)^n\)
= $6 * (1 + 0.02)^6
= $6 * 1.127
= $6.762
Now we can calculate the current stock price (P):
\(P = D1 / (1 + r) + D2 / (1 + r)^2 + ... + D6 / (1 + r)^6\)
\(= $6 / (1 + 0.07) + $6 / (1 + 0.07)^2 + ... + $6.762 / (1 + 0.07)^6\)
To simplify the calculation, we can use the present value of an annuity formula for the sum of the dividends from year 1 to year 6:
\(P = D1 / r * (1 - (1 + r)^-n) + D6 / (1 + r)^n\)
\(P = $6 / 0.07 * (1 - (1 + 0.07)^-6) + $6.762 / (1 + 0.07)^6\)
Now we can substitute the values and calculate the current stock price:
\(P = $6 / 0.07 * (1 - (1 + 0.07)^-6) + $6.762 / (1 + 0.07)^6\)
\(P = $6 / 0.07 * (1 - 0.512) + $6.762 / (1 + 0.07)^6\)
P ≈ $85.714 * 0.488 + $6.762 / 1.503
P ≈ $41.78 + $4.495
P ≈ $46.275
To know more about stock price, click here.
https://brainly.com/question/18366763
#SPJ4
------------The given question is incomplete, the complete question is:
"A stock will pay no dividends for the next 6 years. Then it will pay a dividend of $6 growing at 2%. The discount rate is 7%. What should be the current stock price?"---------------
you definitely have the personal skills and abilities to be an entrepreneur. You are now going to think of your own new enterprise ideas to take to the group for discussion at the next meeting. You must write a proposal in which you explain a range of new entrepreneurial ideas and give reasons for why you believe they will succeed. Your proposal must include:
• An explanation of a range of new entrepreneurial ideas which could be developed into a business venture, with a justification of why you believe each idea is viable
• An assessment of the application of a model/theory of innovation for new business opportunities.
To achieve a Distinction, you must add to the proposal by further developing the most workable business idea into a workable business venture, justifying your choice.
Answers
Proposal for New Entrepreneurial Ideas: In this proposal, I present a range of new entrepreneurial ideas that have the potential to be developed into successful business ventures. Each idea is accompanied by a justification for its viability.
The application of a model/theory of innovation for new business opportunities. Finally, I will choose the most workable business idea and provide additional development and justification for its potential as a successful venture.
Idea 1: Virtual Reality Fitness Studio
Justification: Virtual reality (VR) is an emerging technology that has gained significant popularity in recent years. By combining the immersive experience of VR with fitness activities, we can create a unique and engaging workout environment.
Idea 2: Sustainable Home Products Subscription Service
Justification: With the increasing awareness of environmental issues, there is a growing demand for sustainable and eco-friendly products. A subscription-based service that delivers a curated selection of sustainable home products, such as cleaning supplies, personal care items, and kitchen essentials, can cater to this market.
Idea 3: Personalized Online Learning Platform
Justification: The traditional education system often fails to cater to individual learning styles and preferences. A personalized online learning platform can address this issue by leveraging technology and data analytics to provide tailored educational content.
Assessment of Innovation Model:
The model/theory of innovation that can be applied to these new business opportunities is the "Innovation Ambition Matrix" developed by McKinsey & Company. This matrix categorizes innovations based on their market impact and technical feasibility. By assessing the ideas within this framework, we can evaluate their potential success.
Virtual Reality Fitness Studio: This idea falls into the "Breakthrough" quadrant of the Innovation Ambition Matrix, as it combines an emerging technology (VR) with a traditional industry (fitness). It has the potential to create a significant impact in the market and offers a feasible technical implementation.
Sustainable Home Products Subscription Service: This idea aligns with the "Transformational" quadrant, as it addresses an existing market (home products) but introduces a new approach (sustainability-focused subscription model). The technical feasibility of sourcing and delivering sustainable products is well-established.
Personalized Online Learning Platform: This idea fits into the "Incremental" quadrant, as it builds upon existing online learning platforms and enhances them with personalized features. The technical feasibility is supported by advancements in data analytics and machine learning algorithms.
Selection and Development of the Workable Business Idea:
Among the presented ideas, the most workable business idea is the Virtual Reality Fitness Studio. This concept capitalizes on the growing interest in VR technology and the need for engaging and entertaining fitness experiences. To further develop this idea into a workable business venture, the following steps can be taken:
Market research and feasibility analysis: Conduct in-depth market research to identify target demographics, competitors, and potential partnerships with VR hardware manufacturers. Assess the feasibility of securing appropriate space, acquiring VR equipment, and hiring fitness instructors with VR expertise.
Development of unique VR fitness content: Collaborate with fitness professionals and game developers to create a variety of interactive and engaging VR fitness experiences, including virtual games, guided workouts, and virtual group classes. Focus on ensuring a balance between entertainment and effective fitness training.
User experience optimization: Pay close attention to user feedback and iterate on the VR fitness experience to enhance user engagement, comfort, and accessibility. Continuously improve the hardware setup, software interfaces, and user interfaces to provide a seamless and immersive workout environment.
Conclusion:
The Virtual Reality Fitness Studio stands out as a workable business venture due to its alignment with market trends, the potential for innovation, and the unique experience it offers. By leveraging VR technology in the fitness industry, we can create a successful and sustainable business that caters to the evolving needs and preferences of fitness enthusiasts. With careful planning, execution, and continuous improvement, this venture can thrive in the dynamic market landscape and establish itself as a leader in immersive fitness experiences.
To know more about Entrepreneurial Ideas Assessment visit:
https://brainly.com/question/16258491
#SPJ11