Business Plans
What is the purpose of the Executive Summary?
Gives a brief overview of the entire business plan.
Age and income belong to which type of segmentation?
Demographic
The purpose of market research is to learn about what two things?
Customers and competitors
What trade agreement involves the U.S., Canada and Mexico?
USMCA
A person who creates a business is called a(n) ___.
entrepreneur
Which section describes daily procedures and staffing?
Operations section
Values and beliefs belong to which segmentation?
Psychographic
What is the number of people in a research sample called?
Sample size
What do tariffs do to imported goods?
increase prices
Partners in a general partnership have ___ liability.
unlimited
Which part includes the business name, owner's name, and date?
Title page
Buying frequency is knows as ____.
Usage rate
Identifying location belongs to which research step?
Drawing conclusions/ applying research
What is the main challenge: communication or culture?
Cultural differences
A franchisor checks what two things before approval?
credit and background
What section analyzes competitors and target markets?
Market Evaluation
What segmentation category identifies when customers buy?
Buying status
A group discussion to generate ideas fast is called what?
Brainstorming
What is the process of selling goods to other countries called?
exporting
What kind of corporation sells stocks publicly?
Public corporation
Which section includes start-up funding and revenue forecasts?
Financial Plan
A group of customers a business targets is called a ___.
Market segment
What helps determine if a business idea is realistic?
Feasibility analysis
supply chain
A sole proprietor must file what to use a business name?
DBA license