A(n) ___________ involves showing a preliminary description of a product or service idea to prospective customers to gauge customer interest, desirability, and purchase intent.

Hulu.com allows people to watch television shows and movies on the Internet.  Hulu.com’s business opportunity was made possible by ___________ that enhanced the ability of television shows and movies to be uploaded to the internet and played by anyone with a suitable computer and an Internet connection.

Peter Watson is thinking about launching a small business consulting company.  To get advice on how to proceed, he stopped by his local Small Business Administration (SBA) office.  The SBA advisor told Peter that one of the first things he needs to do is to sit down and write a 25 to 35 page narrative that describes what his new business plans to accomplish and how it plans to accomplish it.  The SBA advisor is telling Peter to write a(n) ___________.

______________ feasibility is an assessment of the overall appeal of the product or service being proposed.

A(n) _____________ is a snapshot of a company’s assets, liabilities, and owners’ equity at a specific point in time.

The strength and vigor of firm’s overall financial posture is referred to as:

_____________ means that as the number of employees a firm needs increases, it becomes increasingly difficult for it to find the right employees, place them in appropriate positions, and provide adequate supervision.

A disadvantage of corporations is that they are subject to _________, which means that a corporation is taxed on its net income and when the same income is distributed to shareholders in the form of dividends it is taxed again on the shareholders’ personal income tax returns.

A business plan is important for two reasons: it forces the founding team to systematically think through every aspect of their new venture and:

Apple is an established firm that encourages and emphasizes entrepreneurial behavior throughout its various divisions.  According to the textbook, Apple practices _____________ entrepreneurship.