BUS101 Economics terms (busi,econ) 90

BUS101 Economics terms (busi,econ) 90 - D the Service Corps...

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prepare the business plan D. before a product is developed or store is opened Definition D. before a product is developed or store is opened Term (p. 168) Most entrepreneurs and small business owners agree that a small busi- ness' marketing effort should include: A. a web presence B. a list of competitor products C. a pro forma income statement D. a complete product lifecycle Definition A. a web presence Term (p. 168) The Small Business Administration sponsors volunteers from industry, trade associations, and education who offer advice to small business owners. These volunteers are called: A. the Small Business Council of Volunteers. B. Partners in Service and Economic Progress. C. Small Business Counselors Incorporated. D. the Service Corps of Retired Executives. Definition
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Unformatted text preview: D. the Service Corps of Retired Executives. Term (p. 162) Entrepreneurs applying for a bank loan should realize that bankers will: A. expect to receive a share of ownership in the business in exchange for their loan. B. expect the entrepreneur to provide a business plan. C. generally make loans only to small businesses in dot.com related industries. D. offer only short-term financing. Definition B. expect the entrepreneur to provide a business plan. Term (p. 162) A good business plan will: A. focus on the big picture and omit the small details of operating the business. B. describe all aspects of the business, including product, the target market, the nature of the competition, any financial resources, and the owner's qualifi-cations....
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