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Chapter 5 Feasibility and Business Planning Flashcards | StudBud
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Chapter 5 Feasibility and Business Planning
Chapter 5 Feasibility and Business Planning
20 terms
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StudBud Administration
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For Entrepreneurship
Flashcards
20 cards
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Questions
20
Answers
1
A good business concept statement does not mention
D. customer
C. distribution
A. money
B. benefit
2
Offers technical and general assistance to entrepreneurs in a specific profession or industry
Chamber of Commerce
Distribution channel
SBA
Trade association
3
A brief recounting of the key points in a business plan
executive summary
target customers
business concept
vision statement
4
Document that describes a new business and a strategy to launch that business
Report Card
1040 Form
Business Plan
Career Plan
5
A feasibility analysis answers the questions
C. What is my marketing plan?
A. Is there enough demand for my product?
B. Are conditions appropriate for me to go forward?
D. a and b
6
common mistakes in preparing business plans?
trying to have expertise in all areas
projecting exaggerated growth levels
underestimating the need for capital
all the above
7
Vision for a business is simply
B. based on your value system
Both B and C
A. being able to see
C. establishes the purpose of a company
8
A clear and concise description of a business opportunity.
business concept
vision statement
vision
business idea
9
__________________ is delivering the service directly to the customer.
Indirect channel
Direct channel
Distribution channel
Value chain
10
The customer who is most likely to buy.
desired customer
target customer
feature
11
Working model of the actual product
trial run
release date
creativity
protoype
12
Sources of information for the business plan include
C. Small Business Administration
B. trade associations
D. all of the above
A. Small Business Development Centers
13
what describes how many you intend to make money with your business concept?
Business concept
Business workers
Business model
Target market
14
The process that tests a business concept
market test
competitive grid
feasibility analysis
market analysis
15
Discusses how a company makes its customers aware of its products or services.
Organizational Plan
Operational Plan
Marketing Plan
Financial Plan
16
A mission statement
B. is the same as a vision
C. is something achievable
D. a and c
A. establishes the goals for a company
17
The means by which a product or service is delivered to a customer
distribution channel
channel
internet
business concept
18
One section that is not in the business plan is
B. executive summary
C. marketing plan
D. feasibility plan
A. management team plan
19
A distinctive aspect, quality, or characteristic of a product or service
feature
want
concept
benefit
20
Group of businesses with a common interest
association
manufacturer
industry
trade union
