Unit 2: Researching and Planning Your Venture

Unit 2: Researching and Planning Your Venture

Ch. 5: Feasibility and Business Planning

List the steps of Developing a Business Concept—give descriptions where necessary

During feasibility analysis, what things must be considered?

Competitive Product Matrix—You have decided to open a movie theatre in Ste. Genevieve. Complete the matrix below for your business. (Add additional rows if needed.)

Competition / Customer / Benefits / Distribution / Strengths/Weaknesses

List the parts of a business plan and tell what goes in each section (if it is not obvious).

What are some common mistakes people often make when writing business plans?

Where can you get help with writing a business plan?

Chapter 6: Market Analysis

1.  What does market analysis include?

2.  What is meant by carrying capacity?

3.  Why is it important to know the stage of the life cycle for your industry?

4.  What is meant by “market segmentation”?

5.  What does psychographics refer to?

6.  What are the steps of the market research process?

7.  Define brand loyalty.

8.  What is market share?

9.  What questions should be answered in your customer profile?

Page 146 Visual Summary

Chapter 7: Types of Business Ownership

Fill in the chart below.

Type / Description / Advantages / Disadvantages / Examples
Sole Proprietorship
Partnership
Corporation
S Corporation
Nonprofit Corporation
LLC

Chapter 8: The Legal Environment

1.  Describe the following:

1. trade secrets
2. patents
3. copyrights
4. trademarks

2.  What are the elements of a contract? Describe each.

3.  What are zoning laws?

4.  What kinds of laws affect employees?

5.  What kinds of laws regulate trade?

6.  What taxes may a business owner have to pay?

Chapter 9: Site Selection and Layout Planning

Visual Summary on page 214

1.  What factors are involved in deciding a community in which to locate a business?

2.  What factors should be considered when selecting a business site?