BUS101 Economics terms (busi,econ) 85

BUS101 Economics terms (busi,econ) 85 - D ask for a...

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Definition A. an analysis of the competition Term (p. 162) A detailed written statement that describes the nature of the business, the target market, the firm's competitive advantages, as well as the owner's resources and qualifications is a: A. business plan. B. entrepreneurial mission statement. C. profit and loss statement. D. professional action plan. Definition A. business plan. Term (p. 162) Entrepreneurs seeking financial support from bankers and potential in- vestors should: A. be vague regarding their creative business plan to avoid having their idea stolen. B. seek the bankers' and investors' assistance in developing their business plan. C. create a detailed business plan to help the bankers and investors under- stand why this business will succeed.
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Unformatted text preview: D. ask for a relatively small amount of capital initially, postponing a full fund-ing request until the investors better understand the business concept. Definition C. create a detailed business plan to help the bankers and investors under-stand why this business will succeed. Term (p. 162) Bankers and potential investors are likely to read ___________ first. A. the executive summary B. the marketing plan C. the qualifications of the management team D. the analysis of the competition Definition A. the executive summary Term (p. 164) After personal savings, the next largest source of capital for entrepre-neurs is from: A. large multinational banks. B. the Small Business Administration....
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