The Following Statement Answers Which Major Question That a Business

question 35

Multiple Choice

The following statement answers which major question that a business plan should address? "This business will serve over 200 customers by the end of the year and employ seven full-time employees."

• A) How much will the new business cost?
• B) Why is this new business a good idea?
• C) What are the goals for the business?
• D) What is the nature and mission of the business?
• E) How often will the business advertise?

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Definitions:

First Entrant

Describes a business that is the first to enter a particular market or industry, potentially gaining competitive advantages.

Leadership Position

A status or role within an organization or market characterized by influence, authority, and the ability to guide or direct others.

Ethnocentrism Bias

A tendency to view one's own culture or ethnic group as superior to others, leading to judgment and bias in assessments.

Equity Mode

An investment strategy or approach that involves taking ownership stakes, typically in the form of stocks, in companies rather than lending money to them.