What is a business plan?
Entrepreneurship Chapter 3

Flashcard
•
Business
•
10th - 12th Grade
•
Hard
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18 questions
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1.
FLASHCARD QUESTION
Front
Back
Written document that describes all the steps necessary for opening and operating a successful business.
2.
FLASHCARD QUESTION
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.
3.
FLASHCARD QUESTION
Front
A brief account of the key points contained in a business plan
Back
Executive Summary
4.
FLASHCARD QUESTION
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.
5.
FLASHCARD QUESTION
Front
Research of the potential customer’s profile
Back
Market Analysis
6.
FLASHCARD QUESTION
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
7.
FLASHCARD QUESTION
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
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