Kathy Denver Is Preparing to Launch a Home Security Firm

question 20

Multiple Choice

Kathy Denver is preparing to launch a home security firm. The team of people that will launch Kathy's firm are as follows: Kathy (CEO) , Trevor (VP-Finance) , Shelia (VP-Sales) , a four-person Board of Directors, a five-person Board of Advisors, and Kathy's primary investor, who will assume an advisory role. The group of people that will launch Kathy's firm is called its ________.

• A) startup squad
• B) new venture panel
• C) new venture team
• D) startup cadre
• E) startup troop

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Definitions:

Management Team

A group of individuals at the top level of an organization who are responsible for making strategic decisions and overseeing the company's operations.

Business Plan

A detailed document outlining the goals, strategies, financial projections, and operational framework for a new or existing business.

Business Planning Process

A formal strategy to set goals, determine the resources needed to achieve these goals, and outline the plan for executing the activities.

Budgets

Estimates of income and expenditure for a set period of time, serving as a financial plan for individuals or organizations.