Unit 12

1 Business planning enables management to think through the ……………….in a logical and structured way and to set out the stages in the achievement of the business objectives.

• A. marketing

• B. business

• C. organization

• D. leadership

2 Business planning enables management to plot progress ……………...the plan.

• A. against

• B. for

• C. to

• D. with

3 Business planning ensures that both of the …………………. needed to carry out the strategy and the time when they are required are identified.

• A. aspects

• B. factors

• C. resources

• D. elements

4.Business planning is an important document for ………………with prospective investors and lenders of finance.

• A. talking

• B. managing

• C. commitment

• D. discussion

5.A business plan has to be particular to the organization in question, its ………………and time. However, a business plan is not just a document, to be produced and filed. Business planning is a continuous process.

• A. situation

• B. location

• C. distribution

• D. communication

6.The business plan has to be a living document, ………………in use to monitor, control and guide the progress of a business.

• A. likely

• B. constantly

• C. normally

• D. probably

7.The previous review of the business plan and its outcome will help highlight which areas of the business have ………………. difficult to forecast historically.

• A. improved

• B. shown

• C. proved

• D. met

8.A business plan must have a………………., set out the key business assumptions on which their plans will be based (such as inflation, exchange rates, market growth, competitive pressures and so on) and take a critical look at their business.

• A. assumption

• B. organization

• C. direction

• D. purpose

9.The strategies …………………….by a business will be largely based on the outcome of the SWOT analysis.

• A. adopted

• B. analyzed

• C. written

• D. planned

10.The one-year plan, or budget, will be prepared in such a way that …………...can be regularly monitored by checking the variance between the actual performance and the budget, which will be phased to take account of seasonal variations.

• A. pace

• B. progess

• C. plan

• D. performance