Exam 8: New Business Planning Process: Feasibility Analysis,business Modeling,

What are the primary steps to proving that a market exists in the market strategy section? What should an effective market analysis include?

Which statement is correct?

The phrase,"avoid the off-the-shelf,'cookie-cutter' approach that produces look-alike plans" means:

The business plan has two essential functions;it helps the entrepreneur determine if the business will succeed and it helps recruit management talent to run the new company.

The ________ acquaints lenders and investors with the nature of the business and the general goals and objectives of the company.

The quality of the entrepreneur's business plan has little impact on the first impression potential lenders and investors have of the company.

An entrepreneur should not include an exit strategy as a way to "cash out" for investors in the initial plan.

When creating financial forecasts in a business plan for a proposed venture,an entrepreneur should:

A business plan presentation should cover:

The executive summary is a written version of what is known as "the elevator pitch."

What financial data will lenders want to see in your financial section?

The reality test of a business plan is the explanation of how much of a return is expected,and when investors can expect it.

The company history should explain why the company was formed,its past successes,and its image in the marketplace.

What are the components of a successful business plan?

A well-prepared business plan helps determine the risks facing the venture.

The organization chart is described in which section of the business plan?

What is the competitive test?

Company goals address the question,"Why am I in this business?"

An executive summary highlights the critical aspects of the plan.

A business plan performs a number of functions including: