IBT Practice Final- Business Plan

The Executive Summary

• is what the reader most likely will read first.

• should generate enough interest to make someone want to read further.

• should stand out by delivering a strong message.

• all of the above

Distribution means to _________

• Make

• Receive

• Create

• Deliver

Part of the business plan that projects the income, expenses, and profits of a business over a multi-year period

• Business Plan

• Operational Plan

• Sales/Marketing Plan

• Financial Plan

This section of your business plan, will explain how the business will be managed on a day-to-day basis.

• Sales/Marketing Plan

• Statement of Purpose

• Appendix

• Operational Plan

This section of the business plan will help determine your financial needs.

• Financial Management
• Operations
• Marketing
• Introduction

A business plan is a written document that describes all the steps necessary for opening and operating a successful business.

• True
• False

A business plan is NOT intended for

• Your competition
• Potential investors
• Your bank
• None of the above

This page includes a compelling story to persuade the reader that the business is going to succeed backed by evidence.

• Mission Statement

• Vision Statement

• Executive Summary

• Company Description

This page describes the several job duties that need to be completed in your business. Depending on the type of business you have, these job duties are different.

• Product/Service Plan

• Company Description

• Management Team Plan

• Competitive Analysis

This page should tell us about the nature of your business, the products and services you offer, who you will serve, and how you will remain competitive.

• Industry Overview

• Company Description

• Management Team Plan

• Mission Statement