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2022-12-26T14:31:10Z

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MBoismier at 18:00, 24 September 2021

2021-09-24T18:00:43Z

MBoismier at 17:59, 24 September 2021

2021-09-24T17:59:58Z

W126jep: Marked this version for translation

2021-05-16T23:24:48Z

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W126jep at 23:24, 16 May 2021

2021-05-16T23:24:36Z

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2020-12-31T15:34:45Z

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Jomegat bot: Jomegat bot moved page Adventist Youth Honors Answer Book/Vocational/Business to AY Honors/Business/Answer Key: Bot: Moved page

2020-12-20T15:18:26Z

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Jomegat at 22:43, 29 November 2020

2020-11-29T22:43:28Z

Jomegat: fix requirement indexing

2020-11-19T03:57:58Z

fix requirement indexing

← Older revision		Revision as of 14:31, 26 December 2022
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		+	<!--T:170-->
	what will you do with the expected profits. Will money go to the club? Do you need to share with your investors? Will you reinvest to build the business bigger?		what will you do with the expected profits. Will money go to the club? Do you need to share with your investors? Will you reinvest to build the business bigger?

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 <noinclude><translate><!--T:139-->
 </noinclude>
- your budgeted profit - expected income less expected expenses including contingency for unexpected expenses. If you are not confident in a profit don't to the business!
+your budgeted profit - expected income less expected expenses including contingency for unexpected expenses. If you are not confident in a profit don't to the business!
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@@ Line 431: / Line 431: @@
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 what will you do with the expected profits. Will money go to the club? Do you need to share with your investors? Will you reinvest to build the business bigger?

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+{{HonorSubpage}}
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+{{CloseHonorPage}}

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-{{Honor desc
+{{honor_desc
 |honorname=Business
 |category=Vocational

@@ Line 16: / Line 16: @@
 ==1. Define the following terms:== <!--T:3-->
-;a. Break Even: the point where the business is not making or losing money
+===a. Break Even===
-;b. Business: any activity designed to create a profit
+the point where the business is not making or losing money
-;c. Business Plan: a detailed, hopefully written, plan of how the business will be organized, what will be produced and sold, and at what cost. Usually includes a budget
+===b. Business===
-;d. Capital: the money used to finance the business. Can include investment by the owners, borrowed money, and retained earnings.
+any activity designed to create a profit
-;e. Distribution: several meanings including 1. The amount of money paid on the owners shares from profits. 2. The system or method of getting goods or services to market
+===c. Business Plan===
-;f. Interest: the rent on borrowed money.
+a detailed, hopefully written, plan of how the business will be organized, what will be produced and sold, and at what cost. Usually includes a budget
-;g. Micro business: an organization with less than five employees, small enough to require little capital ($35,000 or less) to get started. Microbusiness owners are the '...people who refer to themselves as soloists, independents, consultants, craftsmen, artists, musicians, freelancers, free agents, and self-employed people. The majority of these companies are one-person enterprises ...operate out of their homes; and many ...have part-time help from a family member or friends.' (Courtesy of Lloyd Lemons in his Microbusiness Defined article).<ref>https://www.sba.gov/blogs/your-small-business-microbusiness-if-so-you-may-be-luck</ref>
+===d. Capital===
-;h. Price: the amount charged to the buyer for the product or service offered by the business
+the money used to finance the business. Can include investment by the owners, borrowed money, and retained earnings.
-;i. Product: the good or service the business sells
+===e. Distribution===
-;j. Production: the action of making or manufacturing from components or raw materials, or the process of being so manufactured.
+several meanings including 1. The amount of money paid on the owners shares from profits. 2. The system or method of getting goods or services to market
-;k. Profit: the positive amount left after the business pays all expenses.
+===f. Interest===
-;l. Promotion: activity that is designed to increase sales or general awareness of the business, its products and/or services.
+the rent on borrowed money.
-;m. Service: a product that is not a physical item.
+===g. Micro business===
-;n. Target market: the group of potential buyers the business is attempting to attract. A given target market is very product and business specific can be defined by some combination of geography, income level, and often other demographic characteristics like gender, age, marital status, faith, buying habits, interests, amd more. Most businesses will attract the occasional buyer from outside the target market as well, but if too many buyers are from outside the target market it is time to refine the target market.
+an organization with less than five employees, small enough to require little capital ($35,000 or less) to get started. Microbusiness owners are the '...people who refer to themselves as soloists, independents, consultants, craftsmen, artists, musicians, freelancers, free agents, and self-employed people. The majority of these companies are one-person enterprises ...operate out of their homes=== and many ...have part-time help from a family member or friends.' (Courtesy of Lloyd Lemons in his Microbusiness Defined article).<ref>https://www.sba.gov/blogs/your-small-business-microbusiness-if-so-you-may-be-luck</ref>
 ==2. Describe three ways in which a business may be conceived.== <!--T:4-->
@@ Line 269: / Line 283: @@
 ==8. Develop a business plan for at least one of your ideas from #7 above.  Include the following in the plan:== <!--T:10-->
-;a. Description of business:  both a concise two or three sentences plus a more detailed analysis of how you plan to run the business
+===a. Description of business===
-;b. Capital needed and the source of the capital: will you use money on hand, borrow, or get investors?
+  both a concise two or three sentences plus a more detailed analysis of how you plan to run the business
-;c. Price of the product/service:  determined through market research and your budgeted costs plus markup.
+===b. Capital needed and the source of the capital===
-;d. Target market: who do you expect to buy your product or service? Define the target market as carefully as you can as this will help in everything from pricing to promotion strategy.
+will you use money on hand, borrow, or get investors?
-;e. Promotional method: this will be based on your product, where to best connect with your target market, and especially the resources available to you
+===c. Price of the product/service===
-;f. Sales location: this could be a specific place, a range of places (different retailers, door to door, or online)
+  determined through market research and your budgeted costs plus markup.
-;g. Expected gains:  your budgeted profit - expected income less expected expenses including contingency for unexpected expenses. If you are not confident in a profit don't to the business!
+===d. Target market===
-;h. Dissemination of profit: what will you do with the expected profits. Will money go to the club? Do you need to share with your investors? Will you reinvest to build the business bigger?
+who do you expect to buy your product or service? Define the target market as carefully as you can as this will help in everything from pricing to promotion strategy.
 <!--T:72-->

AY Honors/Business/Answer Key - Revision history

W126jep: Marked this version for translation

MBoismier at 18:00, 24 September 2021

MBoismier at 17:59, 24 September 2021

W126jep: Marked this version for translation

W126jep at 23:24, 16 May 2021

Jomegat bot: Bot: Automated import of articles *** existing text overwritten ***

Jomegat bot: Bot: Automated import of articles *** existing text overwritten ***

Jomegat bot: Jomegat bot moved page Adventist Youth Honors Answer Book/Vocational/Business to AY Honors/Business/Answer Key: Bot: Moved page

Jomegat at 22:43, 29 November 2020

Jomegat: fix requirement indexing

Jomegat bot: Bot: Automated import of articles * existing text overwritten *

Jomegat bot: Bot: Automated import of articles * existing text overwritten *