CYU students learn about business models and market size metrics calculation
Accompanying UEF and CYU students were Mr. Felipe Diaz Marin - MBA Hospitality Management, CY Cergy Paris University, and Mr. Le Nguyen Ngoc Thanh - Lecturer, UEF International Institute.
CYU students were provided with knowledge of business fields.
During the class, students gained knowledge of cost structures, revenue streams, and budgets. Additionally, they learned how to calculate market size metrics such as TAM, SAM, and SOM. These metrics help enterprises grasp the market potential, set realistic goals, and make strategic decisions wisely.
First, TAM is the abbreviation for Total Addressable Market, which represents the total achieved revenue opportunity of an enterprise’s product or service when they seize the whole market. Second, SAM stands for Serviceable Available Market, which is the portion of TAM that is accessible and relevant to the business. Finally, SOM is the abbreviation of Serviceable Obtainable Market, this is the part of TAM that enterprises can grasp properly.
CYU and UEF students engaged in group discussions in class
On June 7, the Entrepreneurial Hackathon 2024 program will host the final session and the closing ceremony. It is believed that students will be able to complete their projects after gaining a wealth of knowledge from the program.
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