EEE 2023 - Introduction to Entrepreneurship
Chapter 6-10 Questions with Correct Answers
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Terms in this set (210)
An explanation in a new firm's business plan of the
ASSUMPTIONS SHEET sources of the numbers for its financial forecast and
the assumptions used to generate them.
A panel of experts asked by a firm's management to
BOARD OF ADVISORS
provide counsel and advice on an ongoing basis.
A panel of individuals who are elected by a
BOARD OF DIRECTORS corporation's shareholders to oversee the
management of the firm.
A written document describing all the aspects of a
BUSINESS PLAN business venture, which is usually necessary to raise
money and attract high quality business partners.
A detailed evaluation of a firm's direct, indirect, and
COMPETITOR ANALYSIS
future competitors.
The amount per unit of sale that is left over and is
CONTRIBUTION MARGIN available to contribute? to covering the firm's fixed
costs and producing a profit.
A quick overview of the entire business plan that
provides a busy reader everything that he or she
EXECUTIVE SUMMARY
needs to know about the distinctive nature of the new
venture.
, The costs that a company incurs in operating a
FIXED COSTS business whether it sells something or not (e.g.,
overhead).
A document that spells out a company's operations
and plans in much more detail than a summary
FULL BUSINESS PLAN
business plan; the format that is usually used to
prepare a business plan for an investor.
An analysis that breaks the industry into segments and
MARKET ANALYSIS zeros in on the specific segment (or target market) to
which the firm will try to appeal.
The process of studying the industry in which a firm
MARKET SEGMENTATION intends to compete to determine the different
potential target markets in that industry.
A firm's overall approach for marketing its products
MARKETING STRATEGY
and services.
In a business plan context, a noteworthy event in the
MILESTONE
past or future development of a business.
A statement that describes why a firm exists and what
MISSION STATEMENT
its business model is supposed to accomplish.
An analysis of the firm's fixed costs versus its variable
OPERATING LEVERAGE
costs.
OPERATIONAL BUSINESS A blueprint for a company's operations; primarily
PLAN meant for an internal audience.
ORGANIZATIONAL A graphic representation of how authority and
CHART responsibility are distributed within a company.
How the entire company is situated relative to its
POSITION
competitors.
The first physical manifestation of a new product,
PRODUCT PROTOTYPE
often in a crude or preliminary form.
Chapter 6-10 Questions with Correct Answers
100% Solved
Save
Terms in this set (210)
An explanation in a new firm's business plan of the
ASSUMPTIONS SHEET sources of the numbers for its financial forecast and
the assumptions used to generate them.
A panel of experts asked by a firm's management to
BOARD OF ADVISORS
provide counsel and advice on an ongoing basis.
A panel of individuals who are elected by a
BOARD OF DIRECTORS corporation's shareholders to oversee the
management of the firm.
A written document describing all the aspects of a
BUSINESS PLAN business venture, which is usually necessary to raise
money and attract high quality business partners.
A detailed evaluation of a firm's direct, indirect, and
COMPETITOR ANALYSIS
future competitors.
The amount per unit of sale that is left over and is
CONTRIBUTION MARGIN available to contribute? to covering the firm's fixed
costs and producing a profit.
A quick overview of the entire business plan that
provides a busy reader everything that he or she
EXECUTIVE SUMMARY
needs to know about the distinctive nature of the new
venture.
, The costs that a company incurs in operating a
FIXED COSTS business whether it sells something or not (e.g.,
overhead).
A document that spells out a company's operations
and plans in much more detail than a summary
FULL BUSINESS PLAN
business plan; the format that is usually used to
prepare a business plan for an investor.
An analysis that breaks the industry into segments and
MARKET ANALYSIS zeros in on the specific segment (or target market) to
which the firm will try to appeal.
The process of studying the industry in which a firm
MARKET SEGMENTATION intends to compete to determine the different
potential target markets in that industry.
A firm's overall approach for marketing its products
MARKETING STRATEGY
and services.
In a business plan context, a noteworthy event in the
MILESTONE
past or future development of a business.
A statement that describes why a firm exists and what
MISSION STATEMENT
its business model is supposed to accomplish.
An analysis of the firm's fixed costs versus its variable
OPERATING LEVERAGE
costs.
OPERATIONAL BUSINESS A blueprint for a company's operations; primarily
PLAN meant for an internal audience.
ORGANIZATIONAL A graphic representation of how authority and
CHART responsibility are distributed within a company.
How the entire company is situated relative to its
POSITION
competitors.
The first physical manifestation of a new product,
PRODUCT PROTOTYPE
often in a crude or preliminary form.
