Business Plan Flashcards
1
Q
ENTREPRENEURIAL PROCESS 1
A
DISCOVERY
2
Q
ENTREP PROCESS 2
A
DEVELOPMENT OF CONCEPT
3
Q
ENTREP PROCESS 3
A
ORGANIZING RESOURCES
4
Q
ENTREP PROCESS 4
A
IMPLEMENTATION
5
Q
ENTREP PROCESS 5
A
REAPING OF RETURNS
6
Q
A BUSINESS PLAN IS NOT?
A
- WRITTEN ONCE
- JUST FOR STUDENTS
- JUST FOR STARTUPS
- JUST FOR LOAN APPLICATIONS
- FOLLOWS ONE SIZE FITS ALL TEMPLATE
7
Q
A BUSINESS PLAN IS A?
A
- FLEXIBLE
- GUIDE
- FOLLOWED AND REVISE
8
Q
WHAT IS A BUSINESS PLAN?
A
WRITTEN DESCRIPTION OF A BUSINESS YOU WILL ESTABLISH IN THE FUTURE
9
Q
BUSINESS PLANS ARE THE ____ OF YOUR PROPOSED BUSINESS.
A
BLUEPRINT
10
Q
5 REASONS WHY YOU SHOULD WRITE A BUSINESS PLAN
A
- TESTS FEASIBILITY
- GIVES NEW BUZZ BEST CHANCES OF SUCCESS
- SECURES FUNDING
- MAKES SURE BUSINESS PLANNING IS MORE EFFECTIVE
- ATTRACTS INVESTORS
11
Q
3 FACTORS OF A GOOD BP
A
- SPECIFIC
- FOLLOWED-THROUGH
- REALISTIC
12
Q
WHAT IS AN EXEC SUMMARY?
A
SUMMARIZES DETAILS OF THE BP FOR ITS READERS
13
Q
AN EXECUTIVE SUMMARY IS WRITTEN WHEN?
A
LAST (PARANG ABSTRACT)
14
Q
CONTENTS OF A BUSINESS SUMMARY
THE BUSINESS OPPORTUNITY
A
DESCRIBE THE NEEDS OF THE MARKET
15
Q
CONTENTS OF EXEC SUMM
TAKING ADVANTAGE FOR THE OPPT
A
EXPLAIN HOW YOUR BUZZ WILL SERVE THE MARKET
