Scenario - Holly and Trent

question 51

Multiple Choice

Scenario - Holly and Trent
While many others dreamed about owning their own business, Holly Gabrel decided to do something about it. Holly knew that being self-employed required long hours and hard work, but with the help of her husband, Trent, Holly was positive that the hours and the work would be rewarded. First, she and Trent developed a new concept in sunglasses that could be used by athletes better than the sunglasses now on the market. Holly and Trent obtained a patent on their invention, and began production and marketing.
-After fully developing their new business idea, Holly and Trent recognize the need to develop a business plan. Typical business plans will include all of the following, except:

• A) mission or vision of the company.
• B) information about the suppliers.
• C) policy for extending credit to customers.
• D) analysis of critical risks that threaten success.
• E) all of these should be included.

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Definitions:

Entrepreneurs

Entrepreneurs are individuals who create, organize, and operate businesses, taking on greater than normal financial risks in order to do so.

Custom Development

The process of designing, creating, deploying, and maintaining software for a specific set of users, functions, or organizations.

Pilot Conversion

A method of system implementation where a new system is initially deployed to a limited area of the organization to test its functionality before a full roll-out.

Agile Development

A methodology in software development that emphasizes flexibility, customer involvement, and the regular reassessment of goals and methods throughout the project lifecycle.