Management 350 Chapter 8

A ________ plan is a business plan that gives potential customers or suppliers information about the company and its product or service.

informational

____________ is the extent to which employees, investors, and family members involved in the business know the business's purposes and operations.

internal understanding

A _______ plan is a business plan that provides information on the company, product/service, market, and critical risks.

key employee/partner

The _________ and _________ section is the second most important section of the business plan, because it describes who will buy the firm's product or service.

market, target customer

A _________ is a paragraph that describes a firm's goals and competitive advantages.

mission statement

A ______ is the name given to the formal presentation of the business plan given before judges or potential investors or partners.

pitch

The _________ refers to the slide show created for a business plan presentation.

pitch deck

A _________ website is an internet-based type of business plan providing information or demonstrating a product or service designed to solicit information on customer interest.

proof of concept

A __________ block is a snippet of text, typically inserted at the bottom of an email, that contains contact information for the sender of the email.

signature

__________ is the part of a business that is focused on creating new products or services and preparing new technologies, ideas, products, or services for the firm's market.

research and development

___________ are the parts of a business or business plan that expose the firm to any kind of loss.

risks

The _________ section of a business plan contains detailed financial statements and other information, such as key employee resumes, menus, and customer testimonials.

appendixes

The __________ and ___________ advantage section of a business plan identifies the major competitors for the market.

competition, competitive

The electronic version of a three-ring binder is called a ______ room.

data

The process of investigating a business to determine its value and potential for investment is called _________.

due diligence

A _________ is a 30 second action-oriented description of a business designed to sell the idea of the business to another.

elevator pitch

A ___________ is a one to two page overview of the business, its business model, market, expectations, and immediate goals.

executive summary

A business plan's ________ are a listing of the major plan's headings and sections along with the page number.

table of contents

A _________ is a memorable catchphrase that captures the key ideas of a business, its service, product, or customer.

tagline

The ________ section focuses on the individuals who buy the firm's product/service.

target customer

What should be included in the industry section of the business plan?

the number of firms and sales, the NAICS or SIC number, and the stage of the industry life cycle

T or F: External legitimacy is the extent to which a small business is taken for granted, accepted, or treated as viable by organizations or to people outside the small business or the owner's family.

true

T or F: There is a format that should be followed for the pitch deck that one uses to present to potential investors.

true

A ____________ is a simple 5 to 10 word statement that expresses the fundamental idea or goal of the firm.

vision statement

A _______ plan is a business plan that focuses on the details of an invention, including intellectual property rights for potential licenses.

invention

The ________ section describes what is distinctive about the business in terms of its activities and processes.

key activities and operations

A _______ business is a firm whose product or service is established elsewhere, but is new to a particular market.

new entrant

The ________ section describes the components and supports available for a firm.

organization

_________ involves introducing a future product to potential customers and taking orders for later delivery.

preselling

A ______ is a specialized legal form of a business plan crafted by lawyers for the purpose of soliciting formal investments.

private placement memorandum

Businesses that have a product or service that has a patent, trademark, or copyright protection is discussed in the product/service section and are said to be a ____________ technology.

proprietary

The _______ section includes the NAICS number, the size, and the industry's life cycle stage.

industry

_________ is the cash immediately available to he firm for its day-to-day expenses and operations.

working capital