A business plan should consider what three perspectives?
Answer:
1. Entrepreneur's perspective
2. Marketing perspective
3. Investor's perspect...
A business plan should consider what three perspectives?
____ is more loosely tied to the organization than a Board of Directors and serves only in an advisory capacity for some functions or activities.
____ is more loosely tied to the organization than a Board of Directors and serves only in an advisory capacity for some functions or activities.
Answer:...
List the 6 Roles of the Board of Directors.
List the 6 Roles of the Board of Directors.
Answer:
1. Reviews operating and capital budgets
2. Develops longer-term strategic plan for growth and...
List 3 key functions of the management team.
List 3 key functions of the management team.
Answer:
1. Execute the business plan
2. Identify fundamental changes in the business as they occur
3....
What is the major disadvantages of an LLC (Limited Liability Company)?
What is the major disadvantages of an LLC (Limited Liability Company)?
Answer: The major concern of this type of corporation is in international...
List 4 Advantages of LLC (Limited Liability Company).
List 4 Advantages of LLC (Limited Liability Company).
Answer:
1. May have tax advantages in most states
2. Pass-through taxation (not taxed twice...
List 4 Disadvantages of S Corporation.
List 4 Disadvantages of S Corporation.
Answer:
1. Some restrictions regarding qualification for this form of business
2. Depending on the actual...
List 3 Advantages of S Corporation.
List 3 Advantages of S Corporation.
Answer:
1. Capital gains or losses treated as personal income or losses; corporation is thus not taxed
2. Shareholders...
____ is a special type of corporation where profits are distributed to stockholders and taxed as personal income.
____ is a special type of corporation where profits are distributed to stockholders and taxed as personal income.
Answer: S Corporati...
List 4 tax issues for Corporation.
List 4 tax issues for Corporation.
Answer:
1. Treated as a separate entity
2. Can take advantage of deductions and expenses not available to proprietorships...
List 2 tax issues for Partnership.
List 2 tax issues for Partnership.
Answer:
1. Similar to proprietorship; general partners have unlimited liability
2. No double taxati...
List 3 tax issues for Proprietorship.
List 3 tax issues for Proprietorship.
Answer:
1. Income appears on the owner's personal tax return
2. Not treated as a separate tax entity
3. No...
_____ is the most common form of corporation, regulated by statute (law) and treated as a separate legal entity for liability and tax purposes.
_____ is the most common form of corporation, regulated by statute (law) and treated as a separate legal entity for liability and tax purposes.
Answer:...
_____ is a separate legal entity that is run by stockholders having limited liability.
_____ is a separate legal entity that is run by stockholders having limited liability.
Answer: Corporati...
____ is when two or more individuals having unlimited liability who have pooled resources to own a business.
____ is when two or more individuals having unlimited liability who have pooled resources to own a business.
Answer: Partnersh...
_____ is the form of business with single owner who has unlimited liability, controls all decisions, and receives all profits.
_____ is the form of business with single owner who has unlimited liability, controls all decisions, and receives all profits.
Answer: Proprietor...
List the 3 basic legal forms of business.
List the 3 basic legal forms of business.
Answer:
1. Proprietorship
2. Partnership
3. Corporati...
List the Nine Steps in Preparing the Marketing Plan.
List the Nine Steps in Preparing the Marketing Plan.
Answer:
1. Defining the Business situation
2. Defining the Target Market: Opportunities and...
List the three important elements of pricing.
List the three important elements of pricing.
Answer:
1. costs
2. margins or markups
3. competiti...
____ are specific activities outlined to meet the venture's business plan goals and objectives.
____ are specific activities outlined to meet the venture's business plan goals and objectives.
Answer: Marketing strategy and action pl...
_____ is the process of dividing a market into definable and measurable groups for purposes of targeting marketing strategy.
_____ is the process of dividing a market into definable and measurable groups for purposes of targeting marketing strategy.
Answer: Market segme...
__ is a specific group of potential customers toward which venture aims its marketing plan.
_____ is a specific group of potential customers toward which venture aims its marketing plan.
Answer: Target mark...
_____ describes past and present business achievements of the new venture; part of the marketing plan.
_____ describes past and present business achievements of the new venture; part of the marketing plan.
Answer: Situation analys...
_____ is the combination of product, price, promotion, and distribution and other marketing activities needed to meet marketing objectives.
_____ is the combination of product, price, promotion, and distribution and other marketing activities needed to meet marketing objectives.
Answer:...
____ are financial resources, Management team, Suppliers, Company mission.
____ are financial resources, Management team, Suppliers, Company mission.
Answer: Major Internal Variables that can affect the Marketing Pl...
_____ identifies the major interacting internal and external factors that affect the venture's ability to provide goods and services to meet customer needs.
_____ identifies the major interacting internal and external factors that affect the venture's ability to provide goods and services to meet customer...
The Executive Summary does what two things?
The Executive Summary does what two things?
1. Summarizes goals and objectives for the business
2. emphasizes your commitment to the success of the...
The _____ period moves the industry from many companies and high product costs, to a more stable.
The _____ period moves the industry from many companies and high product costs, to a more stable.
Answer: shakeo...
_____ are laws governing a private offering.
_____ are laws governing a private offering.
Answer: Regulation...
____ is a formalized method for obtaining funds from private investors.
____ is a formalized method for obtaining funds from private investors.
Answer: private offeri...
_____ provides grants from the U.S. government to small technology based businesses.
_____ provides grants from the U.S. government to small technology based businesses.
Answer: SBIR grants progr...
_____ is the overall coordinating party in a partnership agreement.
_____ is the overall coordinating party in a partnership agreement.
Answer: general partn...
_____ is a party in a partnership agreement that usually supplies money and has a few responsibilities.
_____ is a party in a partnership agreement that usually supplies money and has a few responsibilities.
Answer: limited partn...
______ is money given to a firm for developing a technology that involves a tax shelter.
______ is money given to a firm for developing a technology that involves a tax shelter.
Answer: research and development limited partnershi...
______ is the standard way banks lend money to companies.
______ is the standard way banks lend money to companies.
Answer: conventional bank lo...
_____ is tangible collateral valued at more than the amount of money borrowed.
_____ is tangible collateral valued at more than the amount of money borrowed.
Answer: asset base for loa...
_____ is obtaining funds for the company in exchange for ownership.
_____ is obtaining funds for the company in exchange for ownership.
Answer: equity financi...
___ is obtaining borrowed funds for the company.
___ is obtaining borrowed funds for the company.
Answer: debt financi...
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