In the Organization Section of the New Venture Business Plan

question 17

Multiple Choice

In the organization section of the new venture business plan, which of the following should the entrepreneur do?

• A) Describe the management team
• B) Outline the staffing plan for the venture
• C) List and describe the Board of Advisors/Directors
• D) All of the above

Grasp the steps of the consumer decision-making process.

Understand the importance of marketing research for small businesses and its role in responding to competition and changing conditions.

Differentiate between internal and external influences on consumer behavior.

Understand the concept of primary, secondary, and tertiary data within marketing research.

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Definitions:

Justify Differences

The process of providing valid reasons or evidence to explain variations or disparities in behaviors, outcomes, or treatments.

Equal Value

A principle asserting that jobs, not necessarily identical but equivalent in terms of skills, effort, responsibility, and working conditions, should receive the same compensation.

Job Grading Method

A systematic approach used by organizations to evaluate and classify jobs based on their relative worth and complexity to establish appropriate compensation levels.

Job Classification

The system of organizing jobs into categories or grades based on the nature of the job duties, responsibilities, and qualifications required.