Chapter 5 Feasibility and Business Planning

5. An organization made up of individuals and businesses in a specific industry that works to promote that industry.
6. A description of how entrepreneurs plan to make money with their business concepts.
12. the means of delivering a service or product indirectly to the customer, such as through a wholesaler.
13. The process that tests a business concept; it allows the entrepreneur to decide whether a new business concept has potential
15. A working model used by entrepreneurs to determine what it takes to develop their products or services
16. One most likely to buy a business’s products and services.
18. A brief recounting of the key points contained in a business plan.
19. A person who receives value in terms of monetary or other value by circumstances represented in a legal document, i.e., will, insurance policy, etc
20. the means of delivering a service or product directly to the customer, such as via a Web site.

1. A declaration of the scope and purpose of a company
2. document that describes a new business and a strategy to launch that business.
3. the distribution channel through which a product or service flows from the producer to the customer.
4. A clear and concise description of a business opportunity
7. A distinctive aspect, quality, or characteristic of a product or service.
8. The means by which a product or service is delivered to the customer
9. something that promotes or enhances the value of a product or a service to the customer
10. A collection of businesses with a common line of products or services.
11. A declaration of the specific aspirations of a company, the major goals for which it will strive
14. the federal agency that provides services to small businesses and new entrepreneurs, including counseling, publications, and financial aid.
17. a tool for organizing important information about a business venture’s competition.