Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Question
Which statement best describes a business plan?
- It includes ads for hiring expected new employees.
- It details an agreement between competitors.
- It outlines the financial objectives of a firm.
- It transfers the ownership of a firm to another person.
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- The primary disadvantage of the meet-the-competition method of marketing communication budgeting is: marketing dollars may not be spent efficiently. when sales go down, so does spending. there is little flexibility in how marketing dollars can be spent. it shows a lack of commitment to marketingarrow_forwardWhat exactly does it mean to say that a website is popular? In the event that they are unable to pay for it, what other choices are open to small businesses?arrow_forwardA well constructed formal business plan business plan provides the following benefits (select ALL that apply): a. Is used as a tool for communication with outside financial sources b. Is essentially a roadmap that helps align key stakeholder c. Forces the entrepreneur to think critically and objectively d. Summarizes projected capital & resource requirements e. Outlines operating strategies & expected resultsarrow_forward
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