Business Plan Lecture Review Quiz

What is the purpose of a business plan?

• To plan the marketing and advertising

• To communicate your business idea

• To outline the management team

• To obtain funding

Answer explanation

What does the marketing plan include?

• Gantt charts

• Financial documents

• Patient/Customer profile

• Physical description of the product or service

Answer explanation

What is the purpose of a SWOT analysis in the marketing plan?

• To describe the product or service

• To outline the management team

• To develop an exit strategy

• To analyze the company's strengths, weaknesses, opportunities, and threats

Answer explanation

What do Gantt charts illustrate?

• Marketing and advertising tools

• The start and finish dates of project elements

• Physical description of the product or service

• Financial documents

Answer explanation

What financial documents are typically included in the business plan?

• Projected Expenses

• SWOT analysis

• Break even Analysis

• Description of the business

Answer explanation

What is the purpose of an exit strategy in the business plan?

• To analyze the company's strengths, weaknesses, opportunities, and threats

• To describe the product or service

• To develop an exit plan for the company

• To outline the management team

Answer explanation

A written statement of a proposed strategy for entering a small business is called __________

• Curriculum vitae

• Business plan

• Biographical Sketch

• Manuscript publication

Answer explanation