Scenario D

question 18

Multiple Choice

Scenario D. Use the information provided to answer the questions that follow.
Ashton has begun the planning process for his entrepreneurial venture. He has completed an assessment of his vision to operate a full-service shuttle service for the elderly, for which he feels there is a strong market. He has a good understanding of the availability of his own resources and his personal traits to manage the business. Now, he is prepared to start compiling functional plans for marketing, finance, and human resources so that he can obtain the financing he will need to start. He is also deciding how to develop the right reputation and create the proper networks to find employees and customers as well as get advice from fellow businesspeople.
-If, after the current assessment, Ashton still believes in the potential of the venture, he should now proceed with which step of the planning process?

• A) An environmental analysis
• B) A SWOT analysis
• C) A promotional plan
• D) An opportunity analysis
• E) A business plan

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Definitions:

Trade

The exchange of goods, services, or both, between two or more parties.

Corn

A large grain plant native to the Americas, grown for its edible kernels.

Comparative Advantage Theory

The principle that countries or individuals can benefit from specializing in the production of goods they can produce most efficiently, even if they are not the most efficient producer overall.

Agricultural Goods

Products derived from agriculture, such as crops and livestock, used primarily for food, fiber, and raw materials.