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question 92

Essay

Solve: y : = :

Recognize the critical components of a business plan and what information they should include.

Appreciate the importance of realistic financial forecasting in business planning.

Understand the role of a feasibility study in the business planning process.

Identify the importance of market analysis and competitive analysis in a business plan.

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Definitions:

Long-term Memory

The capacity of the brain to store, maintain, and retrieve information over long periods, which can last from hours to decades.

Procedural Memory

Refers to the type of long-term memory that is responsible for knowing how to do things, also known as motor skills.

Semantic Memory

A person’s knowledge about the world.

Atkinson-Shiffrin Theory

Theory stating that memory storage involves three separate systems: sensory memory, short-term memory, and long-term memory.