Need a 200 words minimum response for each with reference by Thursday.
Text: Preparing Effective Business Plans, Ch. 1
#1 Who are the primary consumers of business plans? In what ways do the people who read business plans differ in the information they are looking for?
#2 Why is it important for the founders of a firm to continually measure whether the type of company they are envisioning, as described by their business plan, is consistent with their personal goals and aspirations?
#3 Describe the general rules of thumb for the length and appearance of a business plan.
#4 Why is it important for a firm to test the feasibility of its business idea prior to writing a business plan?
#5 Why is it important for entrepreneurs who are writing business plans to "get out of the building" and ask potential customers and others for feedback on all elements of a business proposal?
#6 What is an elevator speech? How can developing an elevator speech help a firm write a more effective business plan?
Text: Preparing Effective Business Plans, Ch. 2
#7 What four environmental trends provide the richest sources of new business ideas? List each environmental trend and provide an example of the type of business idea that it might create.
#8 Describe the four categories of new business ideas and the most realistic categories for new firms.
#9 Describe how a focus group is set up and how it can be used to generate new business ideas?