lesson 3 stuff to study Flashcards
1
Q
entrepreneur
A
an individual who has an idea for a new business and takes the financial risk of starting up and managing it
2
Q
business plan
A
a detailed written document outlining the purpose and aims of a business which is often used to persuade lenders or investors to finance a business proposal
3
Q
a business plan describes…..?
A
the business, business opportunity, market, objectives of the business, financial forecasts
4
Q
what are the common methods of measuring the size of business ?
A
capital employed, value of output, number of employees, market share
5
Q
ways a business can grow ?
A
internal growth and external growth
6
Q
types of integration ?
A
horizontal, vertical and conglomerate
7
Q
what are the two types of vertical integration ?
A
forward and backward
