Understanding Business
13th Edition
ISBN: 9781264249527
Author: Nickels, William G.
Publisher: MCGRAW-HILL HIGHER EDUCATION
expand_more
expand_more
format_list_bulleted
Question
Chapter 6, Problem 2PPT
Summary Introduction
To discuss: The necessary information listed in the outline of a comprehensive business plan.
Introduction:
A detailed written statement which describes the nature of the business, the target market, the advantages the business will have over competition, and the resources and qualifications of the owner is termed as business plan.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
You plan to open a new business. Before you can approach a potential investor, you will need a strong plan. Describe the purpose and components of a business model and write a one-paragraph business model description for a business of your choice.
Discuss the importance of financial statements in the strategic planning process of an entrepreneurial venture. (please answer asap)
Aside from business plan and financial aspect of the business, give one more thing thatneeds to prepare for starting a business. Explain your answer.
Chapter 6 Solutions
Understanding Business
Ch. 6.1 - Prob. 6.1AQCh. 6.1 - Megan Gibson has always been a big fan of peanut...Ch. 6.1 - Prob. 6.1CQCh. 6.1 - Prob. 6.1DQCh. 6.1 - Prob. 6.1EQCh. 6.1 - Prob. 1TPCh. 6.1 - Prob. 2TPCh. 6.1 - Prob. 3TPCh. 6.1 - Prob. 4TPCh. 6.2 - When Roni Di Lullas dog Midnight had trouble...
Ch. 6.3 - Prob. 1MEDCh. 6.4 - Prob. 6.4AQCh. 6.4 - Prob. 6.4BQCh. 6.4 - Prob. 5TPCh. 6.5 - Prob. 6.5AQCh. 6.5 - Prob. 6TPCh. 6.5 - Prob. 7TPCh. 6 - Prob. 1CECh. 6 - General repair service-paints, makes household...Ch. 6 - Prob. 3CECh. 6 - Prob. 4CECh. 6 - Prob. 1CTCh. 6 - Prob. 2CTCh. 6 - Prob. 3CTCh. 6 - Prob. 1DCSCh. 6 - Prob. 2DCSCh. 6 - Prob. 3DCSCh. 6 - Prob. 4DCSCh. 6 - Prob. 5DCSCh. 6 - Prob. 1PPTCh. 6 - Prob. 2PPTCh. 6 - Prob. 1VCCh. 6 - Prob. 2VCCh. 6 - Prob. 3VC
Knowledge Booster
Similar questions
- In a paragraph format, briefly summarize what you learned in the articles about Understanding Your Fan Base, Expanding Your Fan Base, and Servicing Your Fans. All the article links are below. Next you were also asked to build a profile of an Austin Peay State University football club seat holder and how to market them. In the space below, please share this profile and how you would market to it. Article Links: Understanding Your Fan Base- https://www.entrepreneur.com/growing-a-business/owning-your-customer-data-is-the-key-to-profitability/432073 Expanding Your Fan Base- https://www.greenfly.com/blog/social-media-in-sports/ Servicing Your Fans- https://www.forbes.com/advisor/business/what-is-customer-service-definition-best-practices/arrow_forwardYou have been employed at Small Enterprise Finance Agency (Sefa) as a mentor for up-and-coming entrepreneurs. The client comes to you requiring to be mentored in starting his business. However, he has no idea where to start. As a mentor of prospective entrepreneur provide and advice about all the aspects the client has to take into consideration when starting a business venturearrow_forwardBriefly discuss how you are going to present your Business Plan to investors.arrow_forward
- Please help me with this. Please read the photo carefully. This actually my fourth time asking this question. Thank you in advance!arrow_forwardAfter learning about entrepreneurial process and marketing plan, try to create an acceptable business plan on a separate sheet of paper. Consider the target market, human resource, and product that you assume to market and other factors in marketing plan. Please see attached files for the sample business plan. The pictures below will serve as your guide in creating your own business plan. Business Plan Template Basic: Sample Business Plan Using this outline and answering the following questions can help you draw up a professional business plan. Counseling centers can offer you guidance on your business plan. In addition, the business reference librarian at your local library can offer further assistance while you research information for your business plan. Cover Sheet Name of business, names of principals, address and phone number of business. Table of Contents I. Statement of Purpose II. The Business A. Description of Business B. The Market c. Competition D. Location of Business E.…arrow_forwardrespond to the following as to why this is a good choice for a teleheath company The company I chose that provides mental health services through telehealth is www.NAMI.org The company provides support and education to those who are affected by mental illnesses and have 600 local affiliates and 49 state organizations. The organization lists 5 values in which assist in the possibility of recovery in which applies to the service of their mission to provide equality and hope to those struggling. There is no fee as the organization accepts donations and has volunteers. NAMI also offers DIY fundraisers and gifts of stock. I believe a benefit to this telehealth service benefits to those that are struggling with a mental illness as they provide help to kids, teens, young adults, and veterans whereas some organizations only focus on one age group. Some potential drawbacks I feel would consist of the patient not being consistent with calling in or not engaging fully as there is no in person…arrow_forward
- Describe how you will prepare your business plan for a new business venture such as a stationary store. Be sure to include the components of a good business plan.arrow_forwardThe following are the fundamental questions to consider when starting a business EXCEPT: Do you have a viable concept? Is the reason you want to start a business consistent with your character and concept? Do you know how to run a business? Do you have what it takes? 3arrow_forwardMatch each business model type with the correct description. Remember to select a different business model type for each description. Business model type Product business model Multisided business model Solution business model Matchmaking business model Description A company controls a platform where sellers and buyers exchange products or services. A product or service is designed according to specifics defined by each customer. A product or service is offered to customers. A company provides different products and services to different groups of clients who gain some benefit from the existence of the other group of clients.arrow_forward
- IS MOuue Will aiscuss the proper and efficient ways of starting a business. You will be introduced to the entrepreneurial process, which starts with identifying and evaluating the opportunity. The heart of this module is the scanning of the marketing environment where you formulate a product or service 'solution applying the techniques of seeking, screening, and seizing opportunities. As a result, you will deal with analyzing the need of the market, think of the potential set of products or services that will meet the need, assess the feasibility of the solution, and select the best product or service that will address the need. PRE-ACTIVITY. Directions: Answer the following. 1. In a scenario where you are creating a product to selI, what are the things that you'need to consider? Why? 2. What are the role of your neighbors, friends, family members and the community if you are going to iput up a business? 3|Pagearrow_forwarda. There is a new University built in your area. Write down six (6) opportunities you can take as an Entrepreneur to serve this University community to generate impressive wealth. b. Choose one of those opportunities you have identified in (1a) and write a business plan as an Entrepreneur for financial support from an investorarrow_forwardDevelop a business idea not exceeding 500 words. If you have an opportunity to start a business, what kind of business will you start? Mention about: (i) The industry and product/service you are interested in. (ii) State why you are interested in that business. (iii) Who will be your customers and competitors? (iv) The initial amount you may require starting your business.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Foundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning