part 2

Question 1

Brief one to two page description of the key points of each section of the business plan

Answer 1

Executive Summary

Question 2

Presents Product or Service being offered

Unique features of the Product or Service

Answer 2

Product/service plan

Question 3

Qualifications of the Entrepreneur

Qualifications of any Partners who may be involved in the
business venture

Answer 3

Management Team Plan:

Question 4

Analyzes the: Customers / Competition / Industry /
Demographic / Geographic and Economic data

Answer 4

Industry/Market Analysis:

Question 5

Includes all processes involved in producing and/or delivering
the product or service to the customer

Answer 5

Operational Plan:

Question 6

Management philosophy of the business
Key management personnel
Key employment policies

Answer 6

Organizational Plan:

Question 7

Describes how the business will make its customers aware of its products/ services.
The Market being served / Marketing Strategies / Promotional Plan / Marketing
Budget

Answer 7

Marketing Plan:

Question 8

Presents plan for future expansion of the business

Answer 8

Growth plan

Question 9

Includes financial statements that will help forecast the future financial
health of the business.

Answer 9

Financial Plan:

Question 10

Who defined entrepreneurship as a behavior rather than personality trait?

Answer 10

drucker

Question 11

He defined entrepreneurship as a creation of new organizations.

Answer 11

Gartner

Question 12

The contributor who defined entrepreneurship as an activity that involves discovery, evaluation and exploitation of opportunities to introduce new goods and services, ways of organizing, markets, process and raw materials through organizing efforts that previously had not existed.

Answer 12

Shane

Question 13

He defined entrepreneurship as having profits from uncertainty and risk.

Answer 13

Knight

Question 14

It is a mindset that allows you to see opportunity everywhere and it could be seeing the possibilities in the people that can help you grow a business.

Answer 14

entrepreneurship

Question 15

Give at least 5 countries which is known as successful entrepreneurs in the world.

Answer 15

China
US
CANADA
JAPAN
INDIA
SOUTH KOREA

Question 16

They defined entrepreneurship as pursuit of opportunity without regard to resources currently controlled.

Answer 16

stevenson and grousebeck

Question 17

Carrying out of new combinations of firm
organization-new products, new services,
new sources of raw material, new methods
of production, new market, new forms of
organization

Answer 17

schumpeter

Question 18

Uncertainty bearing…
coordination of productive
resources… introduction
of innovations and
provision of capital.

Answer 18

Hoselitz

Question 19

Purposeful activity to
initiate and develop
a profit-oriented
business.

Answer 19

cole

Question 20

Taking moderate
risk.

Answer 20

mcleland

Question 21

A kind of behavior that
includes: (1) Initiative-taking,
(2)the organizing or
reorganizing of social
economic mechanisms to turn
resources and situations to
practical account,

Answer 21

shapero

Question 22

Decisions and
judgements about the
coordination of scarce
resources.

Answer 22

casson

Question 23

Dynamic process of creating incremental
wealth. This wealth is created by
individuals who assume the major risks in
terms of equity, time, and/or career
commitment of providing value for some
product or service.

Answer 23

rondstandt

Question 24

Process of creating something
new with value by devoting the
necessary time and effort;
assuming the accompanying
financial, psychic and social risks
and uncertainties;

Answer 24

hisrich and brush

Question 25

Pursuit of opportunity
without regard to
resources currently
controlled, but
constrained by the
founders’ previous
choices and industry
related experiences.

Answer 25

hart, stevenson, and dial

Question 26

An activity that involves the
discovery, evaluation and
exploitation of opportunities
to introduce new goods and
services, ways of organizing,
markets, process

Answer 26

shane

Question 27

Dynamic process of vision,
change and creation that
requires an application of
energy and passion toward the
creation and implementation of
new ideas and creative
solutions.

Answer 27

kuratko

Question 28

Conceiving an opportunity to
offer new or improved goods or
services, showing the initiative
to pursue that opportunity,
making plans, mobilizing the
resources necessary to convert
the opportunity into reality.

Answer 28

dyck and nubert