Business Planning Quiz

Kai is starting a new business and is advised that in order to be effective, a business plan should always be in writing. Is this statement true?

• True

• False

The top managers in a business are involved in planning, but first-level managers such as supervisors are not.

• True

• False

Effective planning is less important to the success of a business than other management functions, such as organizing, staffing, leading, and controlling.

• True

• False

In a business management class, Avery is learning about operational planning, which is short-term planning that identifies specific activities for each area of the business. Is this statement true?

• True

• False

The results of strategic planning are goals and strategies that guide the entire business.

• True

• False

Liam is conducting a SWOT analysis for his new startup. SWOT analysis involves both internal and external investigation.

• True

• False

Most of the operational planning in a business is the responsibility of middle-level managers and supervisors.

• True

• False

Ethan is working on a project for his business class. He needs to create a mission statement that flows out of a broad, long-term, and often inspirational vision. Is this statement true?

• True

• False

Levels of Planning: True or False - Goals are the results a business expects to achieve.

• True

• False

Establishing Direction: True or False - Goals should be stated in broad, nonspecific language to make them easier to reach.

• True

• False