1. Priya's Bookshop (PB): - Market segmentation: Dividing the market into distinct groups based on demographics, behavior, or preferences for targeted marketing. - Cash vs. profit: Cash refers to liquid funds available, while profit is the surplus after deducting expenses from revenue. - Month 3 closing balance: Calculated using cash inflows, outflows, and opening balance. - Benefits of cash flow forecasting: Helps predict liquidity issues and assists in financial planning for expenses and revenue management. - Entrepreneurial qualities: Risk-taking and resourcefulness demonstrated by applying for grants and using segmentation for promotions. - Promotional methods: Recommendations could include local advertisements, partnerships with tourist attractions, and social media campaigns targeting residents and visitors. 2. Motorcycle Components (MC): - Lead time: Duration between placing an order and receiving the goods, critical for maintaining JIT inventory efficiency. - Mission statement: Summarizes a company's purpose and direction, guiding decision-making and strategy. - Acid test ratio: Calculated to assess liquidity, excluding inventory, as a measure of short-term financial health. - JIT inventory benefits: Reduces holding costs and ensures flexibility in responding to demand changes. - Process innovation: Potential benefits include increased efficiency, cost reduction, and competitiveness, but requires careful management of initial costs and employee adaptation.