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BASE > Spark Mindset > Flashcards

Spark Mindset Flashcards

1
Q

fit with social mission

A

how well does the channel fit with Spark’s social mission?

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2
Q

Target Market

A

Are Spark’s target markets found within the channel?

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3
Q

Brand Visibility and Credibility

A

Does this channel enhance the awareness of Spark’s services among its target consumers and assist in breaking through barriers posed by deeply entrenched traditional education systems?

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4
Q

Financial Attractiveness

A

Is this channel financially attractive?

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5
Q

Spark Mindset Mission

A

To break the cycle of poverty in historically disadvantaged communities through cybersecurity training for high school and adult students

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6
Q

Social Enterprise

A

Uses business/management skills and market forces to achieve a social goal. Uses profit means for non-profit goals. A transformative force, revolutionizing dysfunctional systems

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7
Q

Aspects of a social enterprise

A
  • more financially sustainable than a non-profit
  • more efficient than NGO’s or government agencies
    -more focused on social goals than businesses
  • addresses social needs not sufficiently met by for-profit businesses or government agencies
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8
Q

Distribution Channel

A

where & how: individuals and firms involved in the process of making a product or service available for use or consumption by consumers or industrial users

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9
Q

Goal of distribution channel

A

goods and services that consumers want + right time+ right location+right form = value

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10
Q

3 primary channel strategies

A

often used in combination
1. direct distribution channels - sales force/stores
2 indirect distribution channels - costco/target
3. digital/internet

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11
Q

traditional consumer product channel

A

producer to distributor to retailer to consumers

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12
Q

Intermediary

A

an entity or individual that provides a conduit (channel) for a company’s product or service to reach the end user. any distribution step between the company and its end user

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13
Q

Distribution channel qualitative considerations

A
  • who is your customer and where will they purchase the product?
  • brand impact
  • company goals
  • increase awareness
  • type of distribution intensity (intensive, selective, exclusive)
  • ability to meet channel requirements (profit for channel partner)
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14
Q

Intermediaries vs Selling Direct

A

Intermediaries: reinforce brand image, greater exposure to target markets, increase consumer awareness
Selling Direct: lower costs (you do not have to pay the channel for their services)

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15
Q

User (Beneficiary) or Customer

A
  • in a SE business model, end user is not always the paying customer
  • for Spark: making a positive impact on the lives of their students is the end goal
  • students are the end user of Spark’s program, but they are not always the paying customer
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16
Q

DTC: Student as Paying Customer

A

Spark can sell directly to students or student’s families; however, this may undermine the social mission due to the high cost

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17
Q

Educational Programming Channel

A

Course creator (spark) to gate keeper to charter school to student

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18
Q

STP

A

Segmentation, targeting, Positioning

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19
Q

Segmentation

A

group customers based on similar needs, profile each segment

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20
Q

Targeting

A

assess attractiveness of each segment, select segments to target

21
Q

Positioning

A

define value proposition for target segments, develop an action plan

22
Q

Market segmentation

A

aggregating prospective buyers into groups, or segments that (1) have common needs and (2) will respond similarly to a marketing action

“homogeneity within a segment and heterogeneity between segments”

23
Q

Key criteria for segmentation

A
  • identifiable
  • substantial
  • accessible
  • stable
  • differentiable
  • actionable
24
Q

Criteria for selecting target markets

A
  • compatibility with organizational goals
  • resources available
  • market size (value)
  • expected growth
  • competitive position
  • cost to reach segment
25
Q

What is positioning?

A

the consumer’s perception of my brand or product based on important attributes versus the competition

26
Q

Positioning Statement

A

Target Audience
Brand or Product Name
Product Category
Differentiating Benefits
Reason to Believe

27
Q

Contribution Margin ($)

A

selling price per unit - variable cost per unit

28
Q

Contribution Margin (%)

A

Contribution Margin ($)/Price per unit ($)

29
Q

variable costs

A

COGS + marketing activities + shipping costs

30
Q

Titles/Headings for slides should be:

A

Informative: provide take-aways
Clear: interpret for viewer
Consistent: one voice
Reasonably concise

31
Q

Conflict

A

Opposition in point of view, purpose, process, etc
A reality in organizational settings when intelligent people must figure out solutions to complex problems
Can be productive or counterproductive

32
Q

conflict can lead to:

A

Positive: thorough vetting of ideas, more creative solutions, and better outcomes
Negative: factionalization, bad feelings and poor outcomes

33
Q

Handling Conflict

A

To be productive balance challenge and safety

34
Q

Challenge

A

willingness to: share ideas, question assumptions, counter groupthink
lack of challenge = lack of engagement, limited ideas, compromised quality & outcomes

35
Q

Creating Challenge

A
  1. offer constructive criticism
  2. receive constructive criticism
  3. be willing to play devil’s advocate
    Do not settle for less just to keep the peace
36
Q

Psychological Safety

A

Openness and respect for everyone: encourage members to challenge and share openly, remain agreeable (even if you do not agree), offer the possibility for good outcomes, be understanding if mistakes happen
Lack of safety = limited participation and commitment, limited input and potential, bad feelings/outcomes

37
Q

Creating Safety

A
  1. listen to understand, not to respond
  2. acknowledge others first
  3. solicit feedback from teammates
  4. be forgiving, encouraging, and welcoming
    Make space for everyone’s voice
38
Q

Group Roles

A

Task-oriented: evaluator, information-giver, devil’s advocate, recorder, opinion-giver
Social: encourager, compromiser, gatekeeper, harmonizer, opinion-seeker
Individualistic (unproductive): aggressor, loafer, blocker, disruptor, dominator

39
Q

Healthy conflict

A

DON’T: engage in personal attacks, express emotion/language that can raise tension level, work individually or make team changes without discussing
DO: be honest, fair, and open in disagreements, focus on tasks and processes

40
Q

Product Adoption Process

A

five stages of buyer acceptance
1. awareness
2. interest
3. evaluation
4. trial
5. adoption

41
Q

credibility vs visbility

A

credibility: quality of being trusted and believed in
visibility: state of being able to see or be seen

42
Q

depth vs breadth

A

depth: distance from top or surface to the bottom of something
breadth: distance or measurement from side to side of something; width

43
Q

Cash Burn

A

the cash amount that a business spends on its operating expenses, financing expenses, and investment in assets. Also used as a measuring stick for its runway, the amount of time the company has before it runs out of money

44
Q

How is Revenue recognized?

A

under accrual accounting, revenue is recognized when title passes to the customer, irrespective of whether cash has been received

45
Q

What is the correct order for the financial statements?

A

Income Statement, Statement of Retained Earnings, Balance Sheet, Cash Flow

46
Q

Sequence to understanding a company

A
  1. create cash flow
  2. analyze the 4 statements for pos/neg
  3. think about recommended changes
  4. decide what your overall view is of the company, its operating strategy, and its situation
47
Q

Net cash from operations

A

start with net income, add back accumulated dep, add decreases in CA or increases in CL, subtract increases in CA or decreases in CL

48
Q

Net cash from investments

A

subtract cap exp in current FY, including purchases of fixed assets and PPE, add proceeds from the sale of fixed assets and PPE, check effect of dep on value of fixed assets

49
Q

Net cash from financing

A

add proceeds from new loans, subtract repayment of debt, add proceeds from sale of stock

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