Business Plan

Business planning is one of the management tools used to achieve business objectives.

• True

• False

The business plan is also known as...

• venture plan

• entrepreneur plan

• business development proposal

• all of these

Business plan is not compulsory for entrepreneurs to apply a loan from financial institution.

• True

• False

Who need a business plan?

• Creditors

• Shareholders

• Bankers

• All of these

A business plan is a written document describing a company's core business activities, objectives, and how it plans to achieve its goals.

• True

• False

The importance of a business plan as below EXCEPT...

• to lost investment

• sets the business mission

• determine barriers to the venture

• increases the stakeholders' confidence

The person or persons responsible for implementing the plan should be heavily involved in its development.

• True

• False

An analysis of the business’s advantage over its competitors

• Contingency Plan

• Growth Plan

• SWOT Analysis

• Competitive Analysis

A business plan would normally be updated once a business adjusts its aims/objectives.

• True

• False

A plan presenting financial forecasts for the business...

• Trading plan

• Investor Plan

• Financial Plan

• Business Loan Plan