MGT HW CH 5

While only 30​ - 40 percent of business owners write a business​ plan, writing a business plan is an extremely good investment of a business​ owner's time and money. If a company meets with entrepreneurs at a conference for​ start-ups and shows interest in your​ company, you might provide a copy of the business plan as a way to​ ______________.

Communicate the merits of the new venture to an outsider

There are various audiences for a​ firm's business plan.​ ____________ are stakeholders who will ask for a full business plan if their interest is sufficiently peaked.

Investors

There are important guidelines that should influence the writing of the business plan.​ Therefore, it is important to be sensitive to the​ structure, content, and style of a business plan before sending it to anyone who may be involved with the new firm. Which of the following is NOT a​ "red flag" that is raised when certain aspects of a business plan are insufficient or miss the​ mark?

Founders with their own money at risk

Specific parts of a business plan may vary depending on the nature of the business and the personalities of the founding entrepreneurs. Which of the following is NOT an element of a business​ plan?

feelings, hopes, and dreams

The​ _____________ section is the part of the business plan that breaks the industry in which a firm intends to compete into segments and zeroes in on the specific segment to which the firm will try to appeal.

marketing strategy