Expenses incurred during one accounting period with the intention of creating revenue in a future accounting period. For example, the cost of R&D for creating a new product with competitive advantages or advertising campaigns that would generate a future incease in revenue.
Commonly used methodology by innovators to solve complex problems through solutions that align with the needs of customers. This method of thinking relies on the full awareness of your customers, logic, and imagination to reach final results that benefit the end user. This methodology involves 5 steps that can be repeated in multiple iterations until reaching satisfactory results: 1. Understanding the problem from the customer's perspective, ie. understanding their needs 2. Defining the main challenges to address and the persona of the customer and their pain points 3. Creative ideation of solutions to generate unconventional solutions to the problem 4. Generating a prototype of solution based on behaviour and needs of the customers 5. Testing the prototype with clients to discover its shortcomings before launch
A type of market/product research, where you collect data at your desk (metaphorically speaking) from existing sources to get initial ideas about your research topic.
A new product, service, or technology which creates notable change in how its market or industry functions by introducing a novel market and value system, ultimately displacing the dominant firms, products, and partnerships.
