The business model canvas and the business plan are similar tools for business preparation. T F

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
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The business model canvas and the business plan are similar tools for business preparation. T F

 

The standard of conduct and moral values regarding right and wrong actions in the work environment is integrity.    T   F

 

The organizational culture of business involves understanding how the market defines the concept of its customers.  T   F

 

An explanation of the organization’s values, intentions, and aims is the organization’s mission.         T   F

 

Entrepreneurs are individuals who recognize opportunities where others see chaos and confusion. T   F

 

Branding is ensuring your products are better than those of the competition’s   T  F

 

If a venture is not ripe for the market, customers will usually wait until the market becomes ready for the product especially if it is a strong product.  T  F

 

A business plan is a written document that details how to get financing for a venture. T F

 

Harvesting a proposed venture must be done on a timed basis. T F

 

A P&L statement outlines the terms of the final proposed agreement for the business. T F

 

 

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