BST EXAM 2 PRACTICE

Front

What is a business incubator?

Back

A center offering low-cost office space and services to new businesses.

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How does crowdfunding work?

Back

Entrepreneurs raise funds from a large group of people online.

Front

Who is a venture capitalist?

Back

An individual or company investing in startups in exchange for ownership.

Front

What is a marketing plan?

Back

A strategic document outlining how a company will promote and sell its products.

Front

What is a business plan?

Back

A detailed document outlining business goals, strategies, and financial projections.

Front

What is a statement of intent?

Back

A document stating a company’s vision and objectives, often for funding proposals.

Front

Who are internal customers?

Back

Employees or departments relying on other parts of the company

Front

What is a profit center?

Back

A business unit responsible for generating revenue and profits

Front

What is a mission statement?

Back

A concise statement defining a company’s purpose and values.

Front

What is a vision statement?

Back

A forward-looking statement outlining long-term goals.