Michael Graves and Jill Simpson just left their jobs with Microsoft to start a business that will sell a new type of fax machine. They wrote a full business plan that they’ve asked you to review. When reading the plan, you noticed that several key sections start with the phrase “We believe..” Is any knowledgeable person who reads this plan going to know what “We believe.” really means? What’s the problem with the statement “We believe.” to introduce key sections of a business plan?
Answer to relevant QuestionsRecently, Megan, Jennifer, and Mark, the co-founders of a medical products company, presented their business plan to a group of investors in the hopes of receiving funding for their venture. One of the investors asked the ...Going forward, what are the most serious challenges facing Birchbox? Which of these challenges do you believe is the most threatening to the firm’s success? Why? How will investors react if they think a business plan is based on estimates and predications rather than on careful analysis and facts? Assume you were assigned the task of writing a code of conduct for Patagonia. Write the portion of the code of conduct that deals with business partnership relationships. Based on the information included in this chapter, in general, do entrepreneurs tend to overestimate or underestimate their knowledge of the laws that pertain to starting a new firm, and why?
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