Strategic Management - EcoWash Case

These flashcards cover key concepts related to the EcoWash case and Lean Start-up principles, focusing on customer segments, strategic management, and value analysis.

Lean Start-up

A method for developing businesses and products that aims to shorten product development cycles and rapidly discover if a proposed business model is viable.

Business Model Canvas

A strategic management tool used for developing new or documenting existing business models, providing a visual chart with elements describing a company's value proposition, infrastructure, customers, and finances.

Value Chain Analysis

A process used to analyze the specific activities through which firms can create value and competitive advantage.

Customer Segments

The different groups of people or organizations that a business aims to reach and serve.

B2B

Business to Business; transactions conducted between companies.

B2C

Business to Consumer; transactions conducted directly between a company and consumers.

B2B2C

Business to Business to Consumer; a model where a business provides services or products to another business, which then sells them to consumers.

Elements of Value Pyramid

A framework that categorizes the values that products and services deliver to customers into four types: functional, emotional, life-changing, and social impact.

Agile Engineering

An approach to software development emphasizing incremental changes and collaboration for product design and development.

Competitive Advantage

A favorable position a firm seeks in order to be more profitable than its competitors.

Sustainable Competitive Advantage

An advantage that is maintained over time and is not easily replicated by competitors.