family business constitution. Which of the following is a consideration in the transfer of ownership in the family firm? tax laws. Considerations in the transfer of ownership include the ownership structure of the firm, legal issues such as tax considerations and government regulations.

Outside-in analysis should consider the general environment, or big picture, and the industry setting in which the venture might do business. Research finds that the general environment affects large businesses and not the small ones, regardless of the industry.

Cost Leadership

When Jeff Bezos launched Amazon.com, his idea of selling items he did not own from a website was unique. Which type of startup is this? prior work experience.

Which of the following best describes the difference between integrity and ethics? Integrity is based on internal principles that guide behavior; ethics is based on external guides to behavior.

Which of the following best describes a business model? Typically a graphical depiction of the essential business process information. Describes the sequence of workflow in a business process.

Business models are important for both new and established businesses. They help new, developing companies attract investment, recruit talent, and motivate management and staff. Established businesses should regularly update their business plans or they’ll fail to anticipate trends and challenges ahead.

Which BEST describes Gigster’s business model? It provides on-demand access to a variety of people working in creative spaces for households, businesses, or individuals in need of their services.

Broken into four parts, each business model includes an offering, customers, infrastructure, and financial viability.

There are nine building blocks that describe and assess a business model: customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure.

of a business model has three components. It describes what specific markets or segments a company chooses to serve, domestically or abroad; what methods of distribution it uses to reach its customers; and how it promotes and advertises its value proposition to its target customers.

The 7 Elements of a Strong Business Model

• Identify your specific audience.
• Establish business processes.
• Record key business resources.
• Develop a strong value proposition.
• Determine key business partners.
• Create a demand generation strategy.
• Leave room for innovation.

While plans vary as much as businesses do, here’s a summary of the seven main sections of a business plan and what each should include.

• Executive Summary.
• Company Description.
• Products and Services.
• Market analysis:
• Strategy and Implementation:
• Organization and Management Team:
• Financial plan and projections:

How to write a business introduction letter

1. Determine the intent.
2. Research the company or market.
3. Identify a need.
4. Open with a strong statement.
5. Include relevant details.
6. Keep it short and concise.
7. Create a call to action.
8. Close your letter.

You want to appear confident, poised, and professional.

1. Greeting: Hello, my name is (name).
2. Goal: I am looking for (internship/full-time position) at (employer name).
3. Interest/passion: I am interested in (interests related to the company/industry).