Business Plan Flashcard

Front

What is a business plan?

Back

A business plan is a formal document that outlines the goals of a business, the strategy for achieving them, and the resources required.

Front

What is the purpose of the Sales and Marketing section in a business plan?

Back

The Sales and Marketing section describes how the product or service will reach customers and outlines the strategies for attracting and retaining them.

Front

Define an entrepreneur.

Back

An entrepreneur is a person who organizes and operates a business or businesses, taking on financial risks to do so.

Tags

CCSS.L.11-12.4C

CCSS.L.9-10.4C

CCSS.L.8.4C

CCSS.L.7.4C

CCSS.L.6.4C

Front

What is a Growth Plan in a business context?

Back

A Growth Plan outlines how a business intends to expand in the future, including strategies for increasing market share and revenue.

Front

What role does marketing information play in business?

Back

Marketing information helps businesses understand customer needs and preferences, enabling them to develop new products and improve existing ones.

Front

Who was the first African American billionaire?

Back

Oprah Winfrey.

Front

What is the significance of a Financials section in a business plan?

Back

The Financials section provides an overview of the business's financial health, including projections for revenue, expenses, and profitability.

Front

What is a Contingency Plan?

Back

A Contingency Plan outlines alternative strategies to be implemented in case of unexpected events or challenges.

Tags

CCSS.L.11-12.4C

CCSS.L.9-10.4C

CCSS.L.8.4C

CCSS.L.7.4C

CCSS.L.6.4C

Front

What is the Company Overview section of a business plan?

Back

The Company Overview section provides a summary of the business, including its mission, vision, and the products or services it offers.

Front

What is market research?

Back

Market research is the process of gathering, analyzing, and interpreting information about a market, including information about the target audience and competitors.