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chpt 5 vocabe

TermDefinition
small business the largest that a business concern, including all of its affiliates, may be and yet qualify as a small business concern for SBA and most other federal programs, The SBA has established two widely used size standards – 500 employees for most manufacturing
virtual business employs electronic means to transact business as opposed to a traditional brick and mortar business that relies on face-to-face transactions with physical documents and physical currency or credit.
business plan A written document that describes in detail how a new business is going to achieve its goals. A business plan will lay out a written plan from a marketing, financial and operational viewpoint.
executive summary is a short document or section of a document, produced for business purposes, that summarizes a longer report or proposal or a group of related reports in such a way that readers can rapidly become acquainted with a large body of material without having t
vision statement the optimal desired future state - the mental picture - of what an organization wants to achieve over time; Provides guidance and inspiration as to what an organization is focused on achieving in five, ten, or more years
mission statement a formal summary of the aims and values of a company, organization, or individual.
Created by: gamefighter