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The Business Model Canvas is a strategic management template used for developing new business models and documenting existing ones. [2] [3] It offers a visual chart with elements describing a firm's or product's value proposition, [4] infrastructure, customers, and finances, [1] assisting businesses to align their activities by illustrating potential trade-offs.
A feasibility study is an assessment of the practicality of a project or system. A feasibility study aims to objectively and rationally uncover the strengths and weaknesses of an existing business or proposed venture, opportunities and threats present in the natural environment, the resources required to carry through, and ultimately the prospects for success.
Business model innovation is an iterative and potentially circular process. [ 1] A business model describes how an organization creates, delivers, and captures value, [ 2] in economic, social, cultural or other contexts. For a business, it describes the specific way in which it conducts itself, spends, and earns money in a way that generates ...
v. t. e. A business plan is a formal written document containing the goals of a business, the methods for attaining those goals, and the time-frame for the achievement of the goals. It also describes the nature of the business, background information on the organization, the organization's financial projections, and the strategies it intends to ...
v. t. e. Project management is the process of supervising the work of a team to achieve all project goals within the given constraints. [ 1] This information is usually described in project documentation, created at the beginning of the development process. The primary constraints are scope, time, and budget. [ 2]
Computer-aided design ( CAD) is the use of computers (or workstations) to aid in the creation, modification, analysis, or optimization of a design. [ 1]: 3 This software is used to increase the productivity of the designer, improve the quality of design, improve communications through documentation, and to create a database for manufacturing ...
Technical drawing, drafting or drawing, is the act and discipline of composing drawings that visually communicate how something functions or is constructed. Technical drawing is essential for communicating ideas in industry and engineering . To make the drawings easier to understand, people use familiar symbols, perspectives, units of ...
Basic research, also called pure research, fundamental research, basic science, or pure science, is a type of scientific research with the aim of improving scientific theories for better understanding and prediction of natural or other phenomena. [ 1] In contrast, applied research uses scientific theories to develop technology or techniques ...