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Chapter 5: How to Form a Business

8/5/2018

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Chapter 5 Study Guide
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Bonus Chapter C: Managing Risk

8/5/2018

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Bonus Chapter C Study Guide
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Bonus Chapter B: Using Technology to Manage Information

8/5/2018

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Bonus Chapter B Study Guide
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Chapter 18: Financial Management

8/5/2018

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Chapter 18 Study Guide
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Chapter 17: Understanding Accounting & Financial Information

8/5/2018

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Chapter 17 Study Guide
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Chapter 15:

8/5/2018

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Chapter 15 Study Guide
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Chapter 14: Developing & Pricing Goods and Services

8/5/2018

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Chapter 14 Study Guide
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Chapter 13: Marketing: Helping Buyers Buy

8/5/2018

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Chapter 13 Study Guide
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Chapter 12: Employee Management Issues

6/30/2015

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Chapter 12 Study Guide
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Chapter 11: Human Resource Management

6/30/2015

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Chapter 11 Study Guide
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Chapter 10: Motivating Employees

6/30/2015

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Chapter 10 Study Guide
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Chapter 9: Production & Operations Management

6/30/2015

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Chapter 8: Structuring & Organizing Business

6/30/2015

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Chapter 8 Study Guide
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Chapter 7: Management & Leadership

6/30/2015

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Chapter 7 Study Guide
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Chapter 6: Starting a Small Business

7/1/2014

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Chapter 6 Study Guide
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Chapter 4: Ethics & Responsible Behavior

7/1/2014

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Chapter 4 Study Guide
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Chapter 3: Global Market Competition

7/1/2014

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Chapter 2: Business Economics

7/1/2014

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Chapter 2 Study Guide
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Chapter 1: Taking Risks & Making Profits

7/1/2014

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Chapter 1 Study Guide
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Business Description

11/16/2012

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business_description_template.docx
File Size: 106 kb
File Type: docx
Download File

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The first step in drafting a Business Plan is to create a Business Description. This will help orient those reviewing your plan to summarize your company's primary objectives, legal structure, target audience, and key products and services. 

Using the Business Description Template file located above, you will fill out 6 paragraphs. Please be sure to include your name, etc. on your paper.

To assist you in filling out your Business Description, the 6 components included in this document (as separate paragraphs) are detailed below:

1. Overview: In a short sentence or two, describe your business and its purpose. 

2. Legal Structure: Describe the legal structure (LLC, Sole Proprietorship, Corporation, etc.) chosen for this business and why. Why is your chosen legal structure preferable to other types available?

3. Business Purpose and Objectives: Explain in detail the purpose of your business. What need does it satisfy or gap does it fill? Describe the top goals/objectives you want your business to accomplish. Answer the questions: Why does my business exist? What does it hope to accomplish? Provide enough information to allow readers to comprehend your bigger picture.

4. Primary Audience: What is your target market? What type of customers do you expect your business to attract? Explain why this specific group of customers will be interested in your product or service. If you are offering more than one product or service, explain why your KEY products or services will be of interest.

5. Product or Service: Describe in detail what your product or service is or does. Provide enough information to allow readers to understand in full how your product or service works, and what it will do. If you are providing more than one, include only the KEY products or services you believe will make an impact for your business.

6. References:  If you use any sources in preparing the business description, include them in this paragraph in APA format. Only reference citations need to be in APA format. The rest of the document should be formatted as prescribed by the template. 

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    Author

    Carlin Clarke, MCA
    Adjunct Faculty
    Utah Valley University
    College of Aviation and Public Services

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    PowerPoint Slides
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    UB: Bonus Chapter B
    UB: Bonus Chapter C
    UB: Chapter 1
    UB: Chapter 10
    UB: Chapter 11
    UB: Chapter 12
    UB: Chapter 13
    UB: Chapter 14
    UB: Chapter 15
    UB: Chapter 17
    UB: Chapter 18
    UB: Chapter 2
    UB: Chapter 3
    UB: Chapter 4
    UB: Chapter 5
    UB: Chapter 6
    UB: Chapter 7
    UB: Chapter 8
    UB: Chapter 9
    Using Technology

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