Ch6
Business Plan Foundations Quiz
Test your knowledge on the essential components of business planning with our engaging Business Plan Foundations Quiz. This quiz covers everything from writing an executive summary to understanding market segmentation.
- Multiple choice questions
- Designed for aspiring entrepreneurs
- Assess your readiness to create a solid business plan
For most new ventures, the business plan is a dual- purpose
True
False
Managers are busy people and want a plan where they can easily find critical information.
True
False
There are ....... Primary audiences for a firm’s business plan
One
Two
Three
Four
An executive summary should exceed two single- spaced pages.
True
False
Even though the executive summary ....... At the beginning of the business plan, it should be written .......
Last , appears
Appears, last
First, last
Last, first
Eexecutive summary is not an introduction
True
False
...... It demonstrates to your reader that you know how to translate an idea into a business.
Marketing analysis
Executive Summary
Industry Analysis
Company Description
Markets can be segmented in many ways, such as by demographic (city, state, country), geography variables (age, gender, income),
True
False
Development plan : If you are in the very early stages of your business and only have an idea, you should carefully explain how a prototype will be produced and tested If you are in the very early stages of your business and only have an idea, you should carefully explain how a ......... Will be produced and tested
Design
Timeline
Prototype
Nothing
Product prototype is the first logical manifestation of a new product, often in a crude or preliminary form. The idea is to solicit feedback and then iterate (product or service)
True
False
General approach to operations – A useful way to illustrate how your business will be run is to describe it in terms of “....... stage” (unseen to the customer) and “.......stage” (seen by the customer) activities.
Start , end
End , start
Front, back
Back, front
.......is a representation of how authority and responsibility are distributed within the company.
Organizational chart
Company structure
Management team
Many investors and others who read the business plan look first at the ..... And then go directly to the section to assess the strength of the people starting the firm.
Executive summary, management team
Management team, executive summary
Executive summary, marketing plan
Marketing plan , executive summary
The first rule in making an oral presentation is to follow directions. If you’re told you have .......
10 minutes
15 minutes
20 minutes
5 minutes
The slides should be cluttered and not sharp
True
False
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