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- 1. Multiple Choice
What is a business plan?
Written document that only outlines the business practices of the new business.
Written document that describes the financial aspects of the business.
Written document that only describes the ownership of the business.
Written document that describes all the steps necessary for opening and operating a successful business.
- 2. Multiple Choice
Why do you need a business plan?
To explain your idea
the ability to get financing.
it's a road map that sets objectives and goals for the business.
To help reduce the risk of business failure.
All of the above.
- 3. Multiple Choice
Complete the sentence: A business plan...
is useful once your business is operational but not much help during the startup phase
is not usually needed once the business is up and running
can serve as a tool for helping a business during the startup phase and for managing your business once it is up and running.
- 4. Multiple ChoiceLooks at likely risks to the businessContingency PlanManagement Team PlanMarketing PlanIndustry Overview
- 5. Multiple ChoiceAn analysis of the business’s advantage over its competitorsGrowth PlanCompetitive AnalysisContingency PlanMarket Analysis
- 6. Multiple ChoiceA part of the business processes that result in the production and delivery of the product or serviceCompetitive AnalysisCompany DescriptionOperational PlanOrganizational Plan
- 7. Multiple ChoiceHow a company will make customers aware of its products/servicesMarketing PlanIndustry OverviewProduct and Service PlanGrowth Plan
- 8. Multiple ChoiceLooks at how the business will expand in the futureGrowth PlanProduct and Service PlanContingency PlanCompany Description
- 9. Multiple ChoiceA potential business owner’s qualifications and those of any partnersCompany DescriptionManagement Team PlanGrowth PlanExecutive Summary
- 10. Multiple ChoiceA brief account of the key points contained in a business planExecutive SummaryCompany DescriptionMission StatementVision Statement
- 11. Multiple ChoiceA description that provides an outline of a businessExecutive SummaryCompany DescriptionContingency PlanMission Statement
- 12. Multiple ChoiceA description of the product or service to be offeredOperational PlanMarketing PlanProduct and Service PlanIndustry Overview
- 13. Multiple ChoiceWho will run the company as well as management’s philosophyOrganizational PlanOperational PlanExecutive SummaryCompany Description
- 14. Multiple ChoiceResearch of the potential business’s industryMarket AnalysisIndustry OverviewContingency PlanMarketing Plan
- 15. Multiple ChoiceResearch of the potential customer’s profileMarket AnalysisMarketing PlanMission StatementGrowth Plan
- 16. Multiple ChoiceA plan presenting financial forecasts for the businessLoan ProposalFinancial PlanBusiness Loan PlanInvestor Plan
- 17. Multiple ChoiceThe specific aspirations of a company, the major goals it will try to reach.Vision StatementCompany DescriptionMission StatementExecutive Summary
- 18. Multiple Choice
Which of the following is NOT a heading on a business plan?
The staff
The idea
Market research
Advertising campaign examples
Competitors
- 19. Multiple Choice
Which of the following would be interested in seeing the business plan of a new company?
Customers
Potential investors
The owners of the company
Banks/ potential lenders
Local council
- 20. Multiple Choice
A business plan would normally be updated:
Every day
A month after the business starts
Once a business adjusts its aims/objectives
Every so often
Never - It stays the same in its original form
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