Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Entrep Reviewer Summative 2 > Business Plan > Flashcards

Business Plan Flashcards

1
Q

Describes in detail how a business plan will operate to attain its goals

A

Business plan

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Second section coming after the executive summary

A

Company description

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Is basically the second section coming after the executive summary. It provides an overview of the key aspects of the business, such as its vision and mission, objectives, nature and scope of the business, product and services, and other highlights

A

Company description

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

The registered or official name of the business.

A

Company

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

It is either a sole proprietorship, partnership or corporation.

A

Type of Business Structure

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

The names of the owners and key people behind the company.

A

Management Team

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

The exact address of the company.

A

Location

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

The origin and inspiration behind the business.

A

Brief History.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

A clear statement that represents the goals, aspirations, and purpose of the company.

A

Vision and Mission Statement

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

An outline of what the company wants to accomplish in the immediate future.

A

Business Objectives

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

A list of products and services to be offered and to whom.

A

Product and Service Line

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

some elements that are common to most company descriptions:

A

• COMPANY NAME

• TYPE OF BUSINESS STRUCTURE

• MANAGEMENT TEAM

• LOCATION

• BRIEF HISTORY

• VISION AND MISSION STATEMENT

• BUSINESS OBJECTIVES

• PRODUCT AND SERVICE LINE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Discusses each key person’s roles, functions, and expertise

A

MANAGEMENT TEAM

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

A method used to monitor and analyze external factors in order to identify their opportunities and challenges, as well as to understand the competition and market dynamics

A

ENVIRONMENTAL SCANNING

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Ongoing process of considering, evaluating, and pursuing profit-generating activities in the market place

A

OPPORTUNITY SEEKING

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q
  • An individual personally owns the business
  • Has no separate legal personality from the owner
A

SOLE PROPRIETORSHIP

17
Q

Dynamic roadmap that specifies how the business will allocate the resources to support business activities

A

ORGANIZATIONAL STRATEGY

18
Q
  • Refers to the value a company promises to provide to its customers
  • Summarizes how the benefit of the company’s product or service will be delivered, experienced, or acquired
A

VALUE PROPOSITION

19
Q
  • Task of recording and keeping track of day-to-day financial transactions of a business
  • Involves making entries to book of accounts using the debit and credit system
A

BOOKKEEPING

20
Q

Refers to general increase of price levels

A

INFLATION

21
Q

Basic step in discovering an unmet or underserved market need or gaining insight to a
particular field

A

SURVEY

22
Q

TYPES OF SURVEY

A

-ONLINE SURVEY
-TELEPHONE SURVEY
-QUALITATIVE SURVEY
-PAPER SURVEY

23
Q

easiest and cheapest technique

A

ONLINE SURVEY

24
Q

provide representative results as the contacted individuals will become included in the sample. Expensive and takes a long time

A

TELEPHONE SURVEY

25
Q

involves focused group discussions and in-depth interviews, and often ask open-ended questions

A

QUALITATIVE SURVEY

26
Q

use traditional pen and paper approach

A

PAPER SURVEY

27
Q

TYPES OF BUSINESS ORGANIZATIONS

A

• SOLE PROPRIETORSHIP
• PARTNERSHIP
• COOPERATIVE

28
Q

is the most basic type of business organization in the country, in which, an individual personally owns the business. It has no separate legal personality from its owner; thus, the assets and liabilities of the business are also the assets and liabilities of the owner.

A

SOLE PROPRIETORSHIP

29
Q

is formed when two or more persons bind themselves to contribute money, property, or industry to a common fund, with the intention of dividing the profits and ownership among themselves.

A

Partnership

30
Q

are called shareholders, Who are responsible for the debts of the corporation only up to the extent of their capital contribution.

A

Corporation

31
Q

STEPS ON HOW TO GENERATE A BRAND (6 phases for strategic brand development)

A

BRAND TEAM DEVELOPMENT

CONDUCT BUSINESS ANALYSIS

CONDUCT AUDIENCE ANALYSIS

DEVELOP A BRAND POSITIONING

CREATE A CONSISTENT MESSAGING AND VISUAL STYLE

LAUNCHING AND EVALUATING THE BRAND

32
Q

takes care of the brand

A

BRAND TEAM DEVELOPMENT

33
Q

discover brand solutions for customers

A

CONDUCT BUSINESS ANALYSIS

34
Q

understand how brand design motivates their target audience

A

CONDUCT AUDIENCE ANALYSIS

35
Q

organization’s uniqueness from its competitors

A

DEVELOP A BRAND POSITIONING

36
Q

communicate the brand position

A

CREATE A CONSISTENT MESSAGING AND VISUAL STYLE

37
Q

helps companies to be aware of subtle changes in the competitive environment

A

LAUNCHING AND EVALUATING THE BRAND

38
Q

ALLOCATION OF RESOURCES

A

• PHYSICAL
• INTANGIBLE
• HUMAN
• FINANCIAL

39
Q

TYPES OF ASSETS

A

• CURRENT
• NON-CURRENT

Entrep Reviewer Summative 2 (1 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions