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Entrepreneurship Ch.6_Opportunity Recognition Flashcards | StudBud
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Entrepreneurship Ch.6_Opportunity Recognition
Entrepreneurship Ch.6_Opportunity Recognition
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#Entrepreneurship
Flashcards
35 cards
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Questions
35
Answers
1
This type of brief business plan is a synopsis lasting from about 30 seconds to 3 minutes
Quick Summary
Investor's Plan
Capital Plan
Executive Summary
2
Which of the following would be delivered as a slide show?
oral presentation
investor's business plan
operational business plan
quick summary
3
Which business plan is meant for use within the business only?
investor's business plan
quick summary
internal presentation
operational business plan
4
An __ business plan is a detailed plan given 2 people whose $ you need 2 start your business.
operational
investor's
executive's
customer's
5
A royalty fee is paid
based on a percentage of the franchise earnings
to the franchisor
on a regular, ongoing basis
all of the answers
6
1 of "3 C's" in business plan which describes how u will find initial $ & cost/profit expected
capital
competition
concept
consumer
7
A __ is defined as something that people must have to survive
desire
need
opportunity
want
8
Which is NOT one of the seven parts of a business plan?
marketing & sales strategy
plan for growth
company description
employee profiles
9
1 of "The 3 C's" in a business plan is _ which describes who will buy the product/service & why
client
customer
executive
operational
10
A __ is a description of your business goals & how you are going to achieve them.
business plan
executive plan
capital plan
operation plan
11
Which is NOT one of the seven parts of a business plan?
investor returns
market analysis
financials
product or service
12
Which of the following is NOT part of a SWOT analysis?
organizations
threats
strengths
weakness
13
A business __ is a customer need or want that can potentially be met by a new business
plan
agreement
nondisclosure
opportunity
14
Have manufacturer sign this agreement type if discussing product idea to keep info confidential
privacy agreement
feasibility agreement
prototype agreement
nondisclosure agreement
15
An __ presentation is a type of business plan that is a short slide show with running narrative
investor's
customer
oral
executive
16
Which is NOT a method for determining the feasibility of a business idea?
opportunity-cost analysis
SWOT analysis
cost/benefit analysis
intangibility analysis
17
An __ summary is a part of a business plan that highlights key selling points on 1 or 2 pages.
operational
executive
capital
customer
18
An __ business plan is somewhat informal and meant for use within the company
investors
capital
executive
operational
19
You can recognize potential business ideas from which of the following sources?
new discoveries
problems that need solving
all of the answers
changes in laws
20
Which of the following is one of "The three C's" of a business plan?
connection
cooperation
capital
competition
21
Which is typically the final section of a business plan?
market analysis
organizational structure
strategic alliances
financials
22
Which of the following is NOT a benefit of buying a franchise?
more entrepreneurial freedom
proven system
easier financing
customer awareness
23
How long does a quick summary type of a business plan last?
between 5 - 10 minutes
between 3 - 5 minutes
between 10 - 15 minutes
no more than 3 minutes
24
An __ pitch must be delivered 2 a potential investor in about 30 sec. & in fewer than 150 words
investor
executive
customer
elevator
25
You can buy an independent business from a
franchisee
franchisor
business broker
all of the answers
26
The time period for acting on a business opportunity before it is lost is called the
starting period
business window
window of opportunity
opportunity time frame
27
Which would NOT be included in the marketing & sales strategy portion of a business plan?
pricing strategy
sales forecast
sales strategy
ownership information
28
A model on which future reproductions of an invention is based is called a __
invention
prototype
product
service
29
an executive summary is a 1 or 2 page report describing what?
business plan financials
the type of business & the type of ownership
the business plan's highlights
company description
30
1 of "3 C's" in B.Plan which describes your product & how it is different from other products
cash
customer
cooperation
concept
31
A __ is defined as a product or service that people desire
need
want
opportunity
plan
32
Which of the following describes creative thinking?
recognizing opportunities
all of the answers
using your imagination
looking at something in a new way
33
Which of the following is NOT one of "The three C's" of a business plan?
customer
concept
challenge
capital
34
A convention where related businesses come together to promote their products is called a__show
trade
creative
product
promotional
35
Which of the following is NOT a creative-thinking technique?
thinking backward
daydreaming
being flexible
being practical