Exam 18: Appendix A: Guidelines for the Development of the Business Plan

Jerome has started his own computer repair business. All of the following are things he needs to determine regarding the human resources requirement EXCEPT

In a business plan, a business description identifies the target market and develops a strategy for appealing to it.

Barry wants to open a new warehouse to produce children's toys. Which operational item must he consider when opening his warehouse?

Gerald wants to open his own barbershop in his community. To demonstrate that his new business will be successful and to outline more specific details about his business, he prepares data, charts, and appendices. Which part of the final written business plan does this scenario best describe?

Briefly discuss the parts of the final written business plan.

Josh lives in a small town in New Hampshire, and he wants to open a new coffee shop in his town. He identifies that there are several corporate chain coffee shops in the area that offer the same options in all their locations. He believes that his community would rather support a local business than corporations and that the locals would prefer coffee drinks and pastries that appeal to their tastes, rather than generic offerings. Which element of a business proposal does this scenario best describe?

Joe is creating a business plan for a new robot that can do his homework for him. What element should his business proposal include?

Crystal is starting her own acting studio. In regard to financial projections, she must consider all of the following items EXCEPT

Which part of the final written business plan requires interpretation of statistics from the U.S. census and from local sources such as the Chamber of Commerce?

Carrie is starting her own small publishing firm, where she plans to develop apps about healthy food preparation and fitness. One of her primary objectives is to determine the software and hardware requirements that will be necessary to develop these digital products. Which part of the final written business plan does this scenario best describe?

Which of the following should appear first in the final written business plan?

Christina's instructor asked each student in her class to develop a hypothetical business plan for a new and unique good, service, or business. Her idea is to start a new online beauty consulting firm. What is the first thing she should do to start this project?

Which of the following is the best reason that you should submit your business plan idea to your instructor as early as possible?

All of the following are variables that need to be addressed as part of the marketing strategy EXCEPT

The statement of cash flows must be prepared for the first ________ months of the business.

Debbie is preparing a business proposal for a new local art studio and store, called The Craft Collective. To describe the business, she wrote that her store would be a place where local artists could display and sell their pieces for a small fee. Since she wants to attract people who live in her community, she plans to hold monthly gallery shows with food and drinks to provide a sense of community among the artists and the locals. She believes that these events will encourage members of the community to buy unique artworks for their homes and offices. Which element of a business proposal does this scenario best describe?

Which part of the final written business plan should include a discussion of the proposed form of the organization and a rationalization of the form chosen?

Business plan proposals will be evaluated based on

Daniel wants to start a new spin studio. He believes that spin studios that exist as part of established gyms are not effective because spinning requires a dark room and loud music. He also doesn't like that most gyms only have a few spin classes per day. He plans to hire enough instructors to offer more classes throughout the day, not just during the high traffic morning and evening time frames. His overall purpose is to provide the optimal conditions for spinning and to start a community that works together to reach fitness goals through spinning. Which element of a business description does this scenario best describe?

Bethany is developing a business proposal for a new vegetarian frozen foods brand. Her business description should include all of the following EXCEPT