FP2 3.04 Business Plan Quiz

Which of the following best describes a business plan:

• A company’s business model in written form

• The same for every company

• A description of your business

• A summary of your company’s finances

Which component of the business plan contains a number for tracking purposes?

• Appendices

• Executive summary

• Cover page

• Table of contents

Which of the following is the most critical component of a business plan:

• Executive summary

• Company description

• Market analysis

• Financial plan

Which of the following should be included in a business plan’s executive summary:

• Business phone number

• Technology involved in products

• Mission statement

• Industry outlook

Which component of the business plan makes it easy for readers to locate sections they want to read or review?

• Product(s) offered

• Table of contents

• Cover page

• Company description

Which of the following questions does the company description section of a business plan answer:

• What is the general outlook for your industry?

• What is your business’s marketing plan?

• Where is the business located?

• What will you charge for your products?

Which of the following pieces of information should be included in a business plan’s company description:

• Purpose of the business plan

• Expected life cycle of product(s)

• Barriers to market entry

• Business’s operating days and hours

The business’s patents and copyrights are usually mentioned in which component of the business plan?

• Product(s) offered

• Market analysis

• Strategy and implementation

• Management plan

A detailed competitive analysis should be included in which component of the business plan?

• Appendices

• Executive summary

• Market analysis

• Financial plan

Which component of the business plan requires considerable time and external research?

• Executive summary

• Market analysis

• Strategy and implementation

• Appendices