Before You Can Start Your Business, You Must Define It

question 45

Essay

Before you can start your business, you must define it. Describe the questions that the business definition answers and its three elements.

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Definitions:

External

Outside of or existing beyond the self or the entity it refers to, often used in contrast with internal.

Internal

Relating to or situated on the inside; intrinsic or inner attributes.

Likert Scale

A psychometric scale commonly involved in research that employs questionnaires. It is used for assessing attitudes by asking respondents to rate their level of agreement with a statement using a choice scale.

Attitudes

A settled way of thinking or feeling about something, typically reflected in a person's behavior.