A business that has stopped operating with a loss to creditors
Business failure
A business that is operating under a new name or the owner has purposely discontinued in order to start a new business so it disappears from the tax rolls
dISCONTINUANCE
Something that promotes or enhances the value of a product or a service for the customer
benefit
A collection of business with a common line or product or service
industry
A working model used by entrepreneurs to determine what it takes to develop their products or services
PROTOTYPE
One most likely to buy a business
target market
A product or service flow from the producer to the customer
Value chain
A tool for organizing information about a business' venture
competitive grid
Plan to make money with their business concept
model
It allows the entrepreneur to decide whether a new business concept has potential
FEASIBILITY
A brief recounting of the key points contained in a business plan
EXECUTIVE SUMMARY
A declaration of the scope and purpose of a company
VISION STATEMENT
A declaration of the specific aspiration of a company the major goal for which it will strive
MISSION