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Question 118

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Use the following to answer questions:
Scenario 4-1. Jean is contemplating opening her new small business called Jean's Gems. She realizes that the first step in beginning her new business is writing a business plan. Since she has never started her own business before, she has many questions. She has attempted to follow an outline she found in an old newspaper article. Her first rough draft contained over 75 pages and now she is discouraged with the process. In fact, she is not even sure if she needs to continue. As in the case of many small business entrepreneurs, funds are limited. If you were Jean, what would you do?
-In Scenario 4-1 above, in which order should the following components of the business plan be written?


A) Determine market feasibility, list possible sources of capital, identify product/service
B) Prepare executive summary, develop marketing strategy, identify product/service
C) Prepare executive summary, identify product/service, choose target market
D) Identify product/service, identify marketing mix, prepare executive summary

Correct Answer:

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