Peter Watson Is Thinking About Launching a Small Business Consulting

question 14

Multiple Choice

Peter Watson is thinking about launching a small business consulting company. To get advice on how to proceed, he stopped by his local Small Business Administration (SBA) office. The SBA advisor told Peter that one of the first things he needs to do is to sit down and write a 25 to 35 page narrative that describes what his new business plans to accomplish and how it plans to accomplish it. The SBA advisor is telling Peter to write a(n) ________.

• A) tactical plan
• B) marketing plan
• C) operations plan
• D) business plan
• E) feasibility analysis

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Definitions:

Legal Standing

The right of an individual or entity to bring a lawsuit to court, based on their stake or interest in the outcome.

Unwritten Rules

Norms, behaviors, or conventions that are understood and followed by a group or society but not formally documented.

Legal Decisions

The conclusions or judgments made by courts of law or other bodies authorized to interpret the law, which guide future actions and resolve conflicts.

Threatened and Endangered Species

Species that are at risk of extinction in the near future.