Deviating Significantly from the Standard Business Plan Format Is a Mistake

question 88

Multiple Choice

Deviating significantly from the standard business plan format is a mistake because:

• A)the business plan is not the right place to express one's creativity.
• B)investors prefer to see a format that is familiar to them.
• C)investors may lose confidence in the entrepreneur's ability to follow best practices.
• D)investors don't appreciate opportunities that are too far "outside the box".

Differentiate between various selling approaches (e.g., transaction selling, relationship selling).

Identify strategies to maximize sales through effective customer service and account penetration.

Understand the implications of personal connections and business friendships on sales and customer relationships.

Recognize the levels of customer relationships in business and the importance of trust and wisdom in these relationships.

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Definitions:

Step-down Method

An accounting approach for distributing overhead expenses across different departments or products.

Personnel Department

The division within an organization tasked with managing employee-related processes including hiring, training, and benefits administration, commonly known as the human resources (HR) department.

Information Technology

The employment of computers, storage systems, networks, and various physical assets, infrastructure, and procedures to generate, process, safeguard, store, and share every type of electronic information.

Step-down Method

An allocation method used in cost accounting to assign overhead costs to different departments based on a hierarchical order.