How does a business plan benefit the entrepreneur?
What will be an ideal response?
ANSWER: A business plan allows the entrepreneur entrance into the investment process. It is the minimum document that is required by any financial source. The business plan describes all of the events that may affect the venture being proposed to investors and financial sources. Besides being a comprehensive document for outside investors to read and understand, a business plan is the entrepreneur's road map for a successful enterprise. It is the entrepreneur's description and prediction for the venture; thus, it is essential that the entrepreneur prepare his or her own business plan. It is during this preparation that it may become evident that the business is ill-fated and should not be started. The time, effort, research, and discipline needed to put the plan together will force the entrepreneur to view the venture critically and objectively.
You might also like to view...
Please choose the method to use when calculating the after-tax return
A) Taxable return (1 + marginal tax rate) - nontaxable return B) Taxable return (marginal tax rate - 1) - nontaxable return C) Nontaxable return (1 - marginal tax rate) + taxable return D) Taxable return (1 - marginal tax rate) + nontaxable return E) Nontaxable return (1 + marginal tax rate) - taxable return
Face-to-face communication and verbal communication transmitted electronically are especially useful for ensuring receivers pay attention to the information communicated.
Answer the following statement true (T) or false (F)
The encounter form is best described as
A) a form used by the nurse or medical assistant to prepare the patient for the doctor's examination. B) a form used by the physician to capture diagnosis and procedure during an office visit. C) a form completed by the patient providing personal information and medical history. D) None of the above
Many current and retired Enron Corp. employees had their 401k retirement accounts wiped out when Enron collapsed because ________.
A. they had to pay huge fines for obstruction of justice B. their 401k accounts were held outside the company C. their 401k accounts were not well diversified D. none of these options