Terms 1
Anything of value that is used to secure a loan.
What is collateral?
Finding out how much money will be required to start a business or what further injection of capital will be needed to sustain the firm's activities refers to
What is accessing funds?
•To attract potential investors
•To source financing
•To guide the operations of the business when making decisions
All these represent:
What are "Reasons for preparing a business plan?"
Questionnaires, observations and interviews are examples of
What are primary sources?
Having excellent wireless and broadband facilities and technology that allows for backing up data refers to what factor to consider when selecting a location?
What is Telecommunication?
forming a new idea whether a new product or service or improvements to an existing one.
What is conceptualizing?
Creating a document that provides information on the purpose, the resources and main activities of the business.
What is creation of a business plan
This section gives a concise but clear picture of the main points of the business plan
What is an executive summary?
The collection of first hand data that does not already exist is referred to as
What is primary research?
Not being able to locate industrial premises in residential areas refers to what factor affecting location?
What are government regulations?
A decision-making process by which an organization decides what it wants to achieve, how it intends to achieve it and in what manner.
What is planning?
This may involve employing a manager to oversee the daily activities to ensure that the business is functioning efficiently.
What is operation of a business?
Sometimes referred to as the production plan and gives details on raw material, labour and technology required and measures that will be taken to avoid jeopardizing the quality of the product.
What is an operational plan?
This type of research may be obtained from sales data, statistics and websites and is cheaper and less time consuming.
What is secondary research?
Locating close to a road junction, rail station or airports in order to minimize cost describes which factor affecting business location?
What is transportation?
These plans range from 1 to 2 years and may include ways to increase the efficiency of a department in order to increase the quality and quantity of output
What are medium term plans?
Determining the type of workers and or capital equipment needed to operate the business is referred to as
What is identification of resources?
This sections details product strategies, promotion strategies, pricing strategies and information about the target customers.
What is a marketing plan?
An analysis of the viability of a business idea to show whether the business idea is a worthwhile/ lucrative business opportunity.
What is a feasibility study?
Determining the category of workers needed and locating in an area where they are most likely to be refers to which factor?
What is supply of labour?
A policy that relates to government spending and government taxation.
What is a fiscal policy?
Conducting a probe or analysis of customers’ wants, the competition or gathering information about a potential market.
What is a market research?
This gives details on the projected start-up cost, collaterals and loan security, projected profit and loss and break-even analysis
What is a financial plan?
•To ascertain the viability
•The possible costs attached to the project.
•Possible sources of finance.
All these represents?
What are reasons for conducting a feasibility study?
Locating in an area where employees will be able to get treatment for possible injuries refers to considering what factor affecting location?
What are health facilities?