Business Plan Quiz

What is the primary purpose of a business plan?

• To describe business goals and how to achieve them

• To attract employees

• To eliminate competition

• To pay taxes

What section of the business plan provides a snapshot of the whole document?

• Financial Plan

• Executive Summary

• SWOT Analysis

• Market Analysis

What is included in the Company Summary?

• Employee benefits

• Brand slogans

• Mission, start-up summary, and future development

• Tax computations

What is the purpose of the Exit Strategy section?

• To increase investment

• To address customer complaints

• To determine pricing

• To explain options in case of failure

Risk analysis helps to:

• Eliminate taxes

• Hide financial data

• Improve product taste

• Identify and prepare for business risks

What is a key part of the Production section?

• Hiring procedures

• Sales tax strategy

• Technology used and sourcing

• Social media presence

Market Analysis includes which of the following?

• Industry background and SWOT analysis

• Legal history

• Employee incentives

• Employee salaries

What does SWOT stand for?

• Sales, Wages, Operations, Technology

• Strengths, Weaknesses, Opportunities, Threats

• Strengths, Weaknesses, Opportunities, Trends

• Sales, Worth, Objectives, Trends

Why is monitoring important in a business plan?

• To assess progress and make corrections

• To take vacations

• To fire staff

• To review office design

In the Market Analysis, what does the 'Demand point of view' cover?

• Product sourcing

• Market supply

• Customer behavior and segments

• Distribution partner fees