Entrepreneurship--Lesson 2-1 Slides

Match

Match the following

• Explains the idea behind your business and tells what will be sold

• Specific objectives and how to achieve them

• Describes background and experience of leadership team

The first purpsoe of a business plan

The 2nd purpose of the business plan

The 3rd purpose of the plan

• The first purpsoe of a business plan

• The 2nd purpose of the business plan

• The 3rd purpose of the plan

Multiple Choice

Which of the following is not a benefit of planning?

• Planning reduces overlapping and wasteful activities

• Planning is a mental exercise.

• Planning provides directions.

• Planning reduces the risks of uncertainty.

Multiple Choice

The primary purpose of a business plan is to define what the business is or what it intends to be over time.

• True

• False

Multiple Choice

Based on the definition and description provided, what are two key components that a business plan should include?

• A list of competitors and a marketing slogan

• A description of the product/service and financial information

• A company logo and employee handbook

• A mission statement and office location

Multiple Choice

What is one significant reason why having a business plan is important for entrepreneurs?

• It helps secure financing

• It guarantees business success

• It eliminates all risks

• It ensures immediate profits