Mis Ch 7

Front 1

steps for bringing an app to market

Back 1

1. brainstorm idea for app
2. analyze potential target markets
3. create mockup and description of app
4. solicit bids to develop app
5. file for necessary legal licenses to do business
6. enroll in the Apple Developer Program
7. promote your app

Front 2

business analyst

Back 2

work with both business units and programmers; discover needs of husiness unit and translate those neees into docs for programmers; also tests completed system and supervise roll out

Hint 2

bridge btwn developers and business units

Front 3

outsourcing

Back 3

hiring another firm to do a job that traditionally might have been done in-house

Hint 3

many misunderstandings btwn business and outsource developer

Front 4

ohshoring

Back 4

outsourcing to a firm that resides in your own country (local)

Front 5

offshoring

Back 5

outsourcing to a firm rhat resides in a foreign country (abroad)

Hint 5

popular bc labor in US expensive

Front 6

competitive advantage

Back 6

attribute that allows the firm to best the competition in some way

Front 7

risk

Back 7

normal in business
solution= continue with estimates and produce range of outcomes + and -

Front 8

legal costs

Back 8

liability for the company

Front 9

Doing Business As (DBA) license

Back 9

cheapest way to start a business;
you doing business under a different name;
personally liable for all business debts

Front 10

Limited Liability Corporation (LLC)

Back 10

recommended way to start a small business;
if busuness fails, you arent personally liable for debts;
expensive

Front 11

developer costs

Back 11

pay the developer; dont be cheap (quality> cost)

Front 12

Apple Developer

Back 12

developer registered with Apple; only developers that can list apps in iTunes Store

Front 13

marketing costs

Back 13

promote app thru ads to direct ppl to app site and app reviews

Front 14

fixed cost

Back 14

cost that the business musy pay whether or not they sell anything
ex. rent, legal fees, developer costs

Hint 14

increase cost for you but no affect on apple commission

Front 15

variable cost

Back 15

cost that the business incurs on each sale
ex. iTunes Store commission

Front 16

contribution margin

Back 16

what you make on every sale after subtracting variable costs;
your share of the profit

Hint 16

need to sell lots of apps to make profit

Front 17

information

Back 17

data that has been processed in a meaningful way

Front 18

formula

Back 18

required to create info

Front 19

landscape orientation

Back 19

printing horizontally rather than vertically on piece of paper

Front 20

assumptions area

Back 20

part of the spreadsheet where the key variables are given their values; contains all values that go into calculations

Hint 20

all other cells refer back to it

Front 21

formula

Back 21

mathematical operation that normally references the values contained in other cells in the spreadsheet

Front 22

name box

Back 22

box located above A1; used to give names to cells

Hint 22

names cant have spaces and must hit enter to stick!

Front 23

CamelBack notation

Back 23

variable names created by capitalizing the first letter of each word and eliminating spaces btwn words

Front 24

naming cells

Back 24

protects against errors in calculations

Front 25

sensitivity analysis

Back 25

analysis of how the outputs will changes as the inputs from tj e assumptions area vary;
how sensitive outputs are to changes in inputs

Front 26

data table

Back 26

tool used to perform a sensitivity analysis;
allows you to vary 2 of the inputs and record changes to one of the outputs

Front 27

exposure

Back 27

analyed in sensitivity analysis using data table