Exam 12: Developing an Effective Business Plan

To avoid the pitfall of "no market niche" (segment), do what?

Which of the following describes advantages of the business plan for financial sources?

The easiest way to avoid the pitfall of no commitment or dedication is to designate that the venture is a hobby or a whim.

To an entrepreneur, one of the benefits of a business plan is

In preparing a business plan for oral presentation, the entrepreneur should scan the outline once or twice.

The appendix and/or bibliography segment is not mandatory, but it allows for

Lack of any time frame to accomplish things is an indicator of the pitfall known as no realistic goals.

The entrepreneur should expect to encounter a friendly and supportive audience when presenting the business plan to potential financial sources.

One suggestion for helping to recall key examples, visual aids, and other details when presenting the business plan is to utilize key words in the outline.

Because of the competition for funding, an entrepreneur's business plan needs to capture the reader's interest right away by stating the uniqueness of the venture.

The entrepreneur's professionalism and how well he or she handles the venture capitalist is far more important than being well organized and prepared.

Every business plan should provide information about future harvest strategies.

How does a business plan benefit the entrepreneur?

An investment prospectus is the same as a business plan.

The entrepreneur must be

Competitive analysis, advertising plan, and pricing policy are all part of the

Which of the following is a pitfall to avoid in planning, according to the textbook author?

The completed business plan provides the entrepreneur with

In planning, there are a number of critical factors that must be addressed. On that the textbook mentions is

There are only two viewpoints from which a business plan should be written, the entrepreneur's and the financial source.