Business Plan Quiz

Why might different readers be interested in different sections of a business plan?

• They have different points of view

• They all want the same information

• They are not interested in the business

• They are competitors

Which section of a business plan describes the company's products and services?

• Operating Plan

• Company Description

• Description of Products & Services

• Management Plan

A business plan should be well-written and what else?

• Well-illustrated

• Well-designed

• Well-spoken

• Well-typed

What is crucial for anticipating problems in business?

• Being innovative

• Being prepared and not caught off guard

• Being aggressive

• Being conservative

What does "decline" indicate about the current status of a business?

• The business is expanding

• The business is stable

• The business is shrinking or losing market share

• The business is starting up

Which of the following is a mistake related to professionalism in business planning?

• Lack of Organization

• Exaggerated Projections of Growth

• Lack of Professionalism

• Exaggerated Performance Beyond Industry Avg.

What is a common mistake that involves poor structuring and planning?

• Lack of Organization

• Exaggerated Projections of Growth

• Growing too Fast

• Exaggerated Performance Beyond Industry Avg.

What is a key objective for students learning about business plans?

• To identify mistakes in business plans

• To be able to describe what a business plan is

• To exaggerate growth projections

• To perform beyond industry average

What is the importance of a "Relevant" goal in S.M.A.R.T. goals?

• Closely connected to the objective

• Easy to measure

• Quick to achieve

• Broad and general

Which quality is NOT one of the three biggest qualities of SMART goals?

• Specific

• Measurable

• Time Limit

• Flexible