Kathy Elliot Has Decided That She Will Start an Internet

question 8

Multiple Choice

Kathy Elliot has decided that she will start an Internet company to sell reliable used cars to customers nationwide.She has decided to use the sole proprietorship business format.Elliot's next step is to write a formal _____ before she applies for a business loan.

• A)venture prospectus
• B)business plan
• C)business essay
• D)request for SBA publications
• E)market perspective

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Definitions:

Top Executives

Individuals who hold the highest level positions in organizations, responsible for making strategic decisions.

Organization's Environment

External factors, including economic, legal, technological, and social influences, that affect an organization’s performance and operations.

Environmental Uncertainty

The degree to which future states of the environment are unpredictable, making it difficult for organizations to anticipate changes.

Environment and Strategy

The interplay between the external environmental factors and an organization's strategic planning and execution.