Share Ap Business Module 1.1
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organization
a structured group of people formed to achieve common goals
business
an organization that produces or purchases goods or service
goods
physical products that businesses sell to customers
services
activities or work that businesses provide to customers
customer
the buyer of a good or service
consumer
the user of a good or service
entrepreneur
and creates or leads a business
solves problems
a person who identifies opportunities
business opportunity
a situation in which a business can meet a customer need or solve a customer problem
needs
things that customers require or consider necessary
wants
things that customers desire but do not necessarily need
problem-solution fit
the match between a business's product and the problems of its intended customers
intended customers
the specific customers a business wants to serve
value
the worth a customer assigns to a good or service based on how well it meets their needs and wants
value creation
providing a product that solves customers' problems or satisfies their needs and wants
value capture
when a business charges a price that is greater than the cost of providing the product
revenue
money received from selling goods or services
