ba 101 exam 3 chapter 6Characteristics of an entrepreneurial team that will be developing and marketing a new product:

a comprehensive business plan includes:

1. Company background 2. Cover letter 3. Executive summary

Characteristics of an entrepreneurial team that will be developing and marketing a new product:

1. Group of experienced people 2. Each from different areas of business 3. Members have complementary skills and are creative

what are the factors that could be associated with small-business success?

1. Managerial competence 2. Adequate financial planning

What is a business plan?

a detailed written statement that describes the nature of the business, the target market, the advantages the business will have over competition, and the resources and qualifications of the owner(s)

An (blank) can benefit both the trainee and the business owner by hiring the trainee to learn small-business management while assisting the owner in getting daily work done

apprenticeship

what are Intrapreneurs?

creative people who work as entrepreneurs within corporations

what is the factor that increases the chances of success of a small business over a large one?

customer requires a lot of personal attention

what are Micropreneurs

entrepreneurs willing to accept the risk of starting and managing a business that remains small, lets them do the kind of work they want to do, and offers them a balanced lifestyle

What are venture capitalists?

individuals or companies that invest in new businesses in exchange for partial ownership in those businesses

what do small businesses do?

meets certain standards of size in terms of employees or receipts, is not dominant in its field, and independently owned and operated

The U.S. government agency that advises and assists small businesses by providing management training and financial advice and loans is the: ?

small business administration (SBA)

What is an entrepreneur?

someone accepting the risk of starting and running a business

What are enterprise zones?

specific geographic areas to which governments attract private business investment by offering lower taxes and other government support