ETR 2633 CHAPTER 1 INTRODUCTION TO BUSINESS PLAN

A business plan is a document that outlines the goals, strategies, and financial projections of a business.

• True

• False

A business plan is not necessary for attracting investors or securing loans.

• True

• False

The business mission and vision are not typically included in a business plan.

• True

• False

Conducting a competitor’s analysis is an important part of a business plan.

• True

• False

Stakeholders have no interest in the financial viability of a company.

• True

• False

An operational plan helps ensure maximum profit with the lowest possible cost.

• True

• False

A business plan should include only financial projections and no other aspects of the business.

• True

• False

The cover letter of a business plan introduces the purpose and contents of the attached plan.

• True

• False

The five C’s of credit include capital, capacity, competitors, collateral, and character.

• True

• False

A well-structured business plan is a tool to monitor progress and adjust strategies as necessary.

• True

• False