Class 5

Question 1

What is an opportunity:

Answer 1

A way of generating profit through unique, novel, or desirable products or services that have not been previously exploited. All opportunities must generate value.

Question 2

All opportunities should be:

Answer 2

Unique, novel, and desirable. Profit doesn’t always come directly from the customer.

Question 3

Economic value:

Answer 3

Profit for the company, discretionary income for the consumer, GDP for the community.

Question 4

Social value:

Answer 4

Job satisfaction for employees, product enjoyment by the consumer, and overall well-being within the community.

Question 5

Communal value:

Answer 5

Cohesion among employees, a sense of kinship among consumers, and increased engagement within the community.

Question 6

Environmental value:

Answer 6

Cleaner business practices within the company, decreased product waste by the consumer, sustainability within the community.

Question 7

Create value for:

Answer 7

Yourself and family, employees, customers, regulators, other businesses, communities.

Question 8

ADKAR as a process; start a change:

Answer 8

Awareness of the need for change, desire to participate, and support the change.

Question 9

ADKAR as a process; implement the change:

Answer 9

Knowledge of how to change, ability to implement required skills and behaviors.

Question 10

ADKAR as a process; sustain a change:

Answer 10

Reinforcement to sustain the change.