When Writing a Market Analysis of Your Business Plan,you Should

question 29

Multiple Choice

When writing a market analysis of your business plan,you should include all of the following EXCEPT ________.

• A) explanation of the advantage of using business's product or service
• B) identification of age and location of potential customers
• C) description of methods that will be used to promote the business
• D) description of the potential growth for the good or service
• E) a clear understanding of your competition

Analyze the factors leading to group polarization and risky shift phenomena.

Identify the presence and impact of biases in group decision-making.

Explain the concept of groupthink, its causes, and its symptoms.

Understand the importance of effectively pooling information within groups.

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Definitions:

Operating Cycle

The duration from the acquisition of supplies for production to the collection of payment from the sale of goods, indicating the company's efficiency in managing its inventory and receivables.

COGS

Cost of Goods Sold; the direct costs attributable to the production of the goods sold by a company.

Operating Cycle

The duration between the acquisition of inventory and the collection of cash from receivable accounts in a company's business process.

Collection Period

The average number of days it takes for a business to receive payments owed by its customers, indicating the efficiency of a company's credit and collection policies.