Study
the following definitions and examples.
1. address
n., a formal
speech; v., to direct to the attention of
a. The
article praised her address to the steering committee.
b. Marco's
business plan addresses the needs of small business owners.
2. avoid
v., to stay clear
of; to keep from happening
a.
To avoid going out
of business, owners should prepare a proper business plan.
b.
Lloyd's errors in
accounting could have been avoided by a business consultation with his banker.
3. demonstrate
v., to show clearly
and deliberately; to present by example
a.
Alban's business
plan demonstrated that he had put a lot of thought into making his dream a
reality.
b.
The professor
demonstrated through a case study that a business plan can impress a lender.
4. develop
v., to expand,
progress, or improve
a.
Lily developed her
ideas into a business plan by taking a class at the community college.
b.
The restaurant Wanda
opened ten years ago has developed into a national chain.
5. evaluate
v., to determine
the value or impact of
a. It's
important to evaluate your competition when making a business plan.
b. The
lenders evaluated our creditability and decided to loan us money.
6. gather
v., to accumulate;
to conclude
a. We
gathered information for our plan from many sources.
b. I
gather that interest rates for small businesses will soon change.
7.
offer n.,
a proposal; v., to propose; to present in
order to meet a need or satisfy a requirement
a. Devon accepted our offer
to write the business plan.
b.
Jackie must offer
her banker new statistics in order to encourage the bank to lend her money
toward her start-up business.
8. primarily
adv., first; most
importantly
a.
We are primarily
concerned with convincing the board of directors to apply for the second loan.
b.
The developers are
thinking primarily of how to enter the South American market.
9. risk
n., the chance of
loss or damage
a. The
primary risk for most start-up businesses is insufficient capital.
b. Expanding
into a new market is a big risk.
10.
strategy n.,
a plan of action
a. A
business plan is a strategy for running a business and avoiding problems.
b. Let's
develop a strategy for promoting our ice cream parlor.
11.
strong adj.,
powerful; economically or financially
sound
a.
The professor made a
strong argument for the value of a good business plan.
b.
Even in a strong
economic climate many businesses fail, so do your planning carefully.
12.
substitution n.,
replacement
a.
Your substitution of
fake names for real ones makes the document seem insincere.
b.
There is no
substitution for hard work and perseverance.