Entrepreneurship Chapter 3

Front

What is a business plan?

Back

Written document that describes all the steps necessary for opening and operating a successful business.

Front

Why do you need a business plan?

Back

To explain your idea, the ability to get financing, it's a road map that sets objectives and goals for the business, To help reduce the risk of business failure.

Front

A brief account of the key points contained in a business plan

Back

Executive Summary

Front

Complete the sentence: A business plan...

Back

can serve as a tool for helping a business during the startup phase and for managing your business once it is up and running.

Front

Research of the potential customer’s profile

Back

Market Analysis

Front

A target market is a group of _______ that the _______ has decided to aim its marketing efforts and ultimately its merchandise towards.

Back

Customer, Business

Front

Which of the following statements about business plans is TRUE?
Business plans eliminate risk to lenders,
Business plans reduce risk to lenders,
Business plans increase risk to lenders,
Business plans have no impact on risk to lenders

Back

Business plans reduce risk to lenders

Front

A medium term for your business plan is

Back

two to five years

Front

The form of ownership that involves a single owner is known as..

Back

a sole proprietorship

Front

Which of the following is not a potential advantage of a company over their competition: Price, Performance, Problematic, Promotion?

Back

Problematic