BUS101 Economics terms (busi,econ) 84

BUS101 Economics terms (busi,econ) 84 - was ready to retire...

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was ready to retire. As Drew began creating a business plan, he contemplated what the business might be worth and how much will he need to buy this busi- ness. For starters, Drew A. needs to find a government data base that outlines what nursery businesses are worth, on average, across the country. B. should speak with the current owner and determine the total value of assets (what the business owns), its earning potential, and its unique advantage. C. will want to determine the assessed value of the acreage that the business owns, and then bid competitively. D. needs to understand that it's difficult to buy an existing business, rather than start your own. The key will be to meet with the company's accountant, and explain your interest. The accountant will have all the answers. Definition B. should speak with the current owner and determine the total value of assets
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Unformatted text preview: (what the business owns), its earning potential, and its unique advantage Term (p. 162) Two key management functions that need particular attention when starting a business are: A. human relations and accounting B. planning and financing C. marketing and public relations D. staffing and controlling Definition B. planning and financing Term (p. 162) A __________ is a written document that details the business idea, the target market and the business's competitive advantage, financial resources available for the business, and the qualification of the management. A. feasibility product B. marketing plan C. business plan D. statement of intent Definition C. business plan Term (p. 162) The business plan will include ______________. A. an analysis of the competition B. names of banks the owner plans to visit C. import/export information D. names of employees...
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