TOU 046 quiz

Refers to the process of determining the primary objectives of the entrepreneurship and then adopting courses of allocating resources to achieve those objectives

• Tactical Planning
• Resource Allocation
• Operational Planning
• Strategic Planning

Refers to specific performance targets that the entrepreneurship hopes to accomplish. The objectives define, in specific terms, how the mission will be realized.

• Goals
• Strategies
• Plans
• Objectives

An organized method of assessing a firm's strengths and weaknesses and the opportunities and threats in the external environment that confront or will confront the firm.

Is a document that helps business owners determine what resources are needed to achieve the objectives of the firm, and provides a standard against which to evaluate results.

Is a portion of the business plan that summarizes the plan and states the objectives of the business

• Market Analysis
• Executive Summary
• Business Overview
• Financial Projections

The business plan must be easily iddentifiable through a cover page with a listing of the following: the name of the business; addres; etc.,

Refer to what the SBO plans to do to achieve the market objective of the firm

• Description of the business

• Market Strategies

• Definition of the Market

• Positioning Strategy

Refers to how the firm differentiates its products and/or services from those of the competitors and serving a niche

Is a method of pricing where the firm sets prices based on buyer desires. The range acceptable to the market is determined

• Cost-plus pricing
• Dynamic pricing
• Penetration pricing
• Demand pricing

Are distributors who buy directly from distributors or wholesalers and sell to retailers or end users.

• Brokers

• Direct Sales

• Manufacturers
• Wholesalers