Module 2A - Graded Quiz Questions

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A(n) _____ is a one-page document on letterhead that introduces the business plan and owner to the recipient and indicates why the recipient is being asked to read the plan.

Vision Statement

A(n) _____ is a very simple 5-10 word sentence or tagline that expresses the fundamental idea or goal of the firm.

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A key employee/partner plan is also called a _____ plan.

To provide supporting information that helps detail the key selling points of a plan

What is the goal of appendixes?

New Entrant

When your product or service already exists but your firm is the first of its kind in your market it is considered a(n) _____ business.

Executive Summary

Which of the following components gives an overview of the business, it's business model, market, expectations, and immediate goals?

Growth Rate

Which of the following is most likely to be a business plan concern for silent partners/angel investors.

It is a complex legal document and should be drafted by a lawyer.

Which of the following is true of a private placement memo?

External legitimacy for a firm is best established by creating business plans.

Which of the following statements is true of business plans?

Preselling

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