1.01 Quiz - Business Plans

Which of the following discusses how a company is intended to work in the future:

• Product promotion

• Executive summary

• Financial resource

• Business plan

Since Brianna wants to sell a bank or investor on her company’s capabilities, she is motivated by the number one reason for writing a business plan, which is

• the need for funding.

• an approaching deadline

• an urgent request.

• the desire for recognition.

In what way can a start-up business benefit from writing a business plan?

• Place a value on the business

• Define managers’ roles

• Prepare for an expansion

• Assess a new product or promotion

In what way can an existing business benefit from writing a business plan?

• Begin operations

• Identify managers’ roles

• Acquire funding for a new idea

• Determine how to distribute profits

Since Justin needs to examine the methods used to reach his company’s goals, he wants to write a business plan to

• acquire funding.

• implement a strategic plan.

• prepare for an expansion.

• place a value on the business.

Before Lynnette takes her new product to a mass audience, she should write a business plan to

• identify managers’ roles.

• obtain a specific contract or agreement.

• place a value on the business.

• assess a new product or promotion.

Since Alana’s company will build a new facility next year, she should write a business plan to

• assess a new product or promotion.

• place a value on the business.

• prepare for an expansion.

• obtain a specific contract or agreement.

Fred wants his company to become the main supplier for a prominent local business. He should write a business plan to

• obtain a specific contract or agreement.

• place a value on the business.

• acquire funding.

• assess a new product or promotion.

While preparing to sell their consignment shop, Erin and Evan should write a business plan to

• prepare for an expansion.

• obtain a specific contract or agreement.

• place a value on the business.

• assess a new product or promotion.

The part of the business plan that gives an overview of the entire document is the

• appendices.

• executive summary.

• table of contents.

• company description.