A Successful Business Plan Should Be No More Than:

market analysis

In a business plan, research about the business's customers is included in the

A vision statement

establishes the scope & purpose of the company

marketing plan

In a business plan, the description of the business's media plan is included in the

executive summary

A brief account of the key points contained in a business plan is the

False

A virtual business acts like a business, but is not a real business.

True

The executive summary of the business plan should be no more than two pages and should include the most important information from each section of the plan.

market research

To determine if there is a demand for your product or service, you must do '

Entrepreneurship is the process of

all of the above

cost-concious

All of the following are recommended traits for a career in entrepreneurship except being

sole proprietorship

Most U.S. businesses are

obtaining financing

One of the biggest obstacles in starting a business is

true

Many successful entrepreneurs work in a related business before starting their own company.

True

The vision and mission statements in the business plan state the guiding principles by which a business functions.

operates on the internet

A virtual business is a business that

all of the above

The company description section of a business plan helps investors understand

All of the above

A business plan is used by

auto mechanics

All of the following are examples of an industry except

true

Before you decide to start a particular business, you need to do market research to see if there is a demand for your product or service.

venture

A ______________ is a new business undertaking that involves risk.

venture

A new business undertaking that involves risk is called a

Small business administration

SBA is an acronym that stands for the

a business plan

A written description of a business venture that describes all aspects of the business is called

false

A small business, as defined by the SBA, serves a limited geographic area and employs no more than 100 people.

false

There are 10 essential parts of a business plan.

partnership

a __________________ is owned and run by two or more people.