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WorksheetsSM QUIZ - ENTREPRENEURSHIP
Total questions: 30
Worksheet time: 15mins
What is a business plan?
Written document that only outlines the business practices of the new business.
Written document that describes the financial aspects of the business.
Written document that only describes the ownership of the business.
Written document that describes all the steps necessary for opening and operating a successful business.
Why do you need a business plan?
To explain your idea
the ability to get financing.
it's a road map that sets objectives and goals for the business.
To help reduce the risk of business failure.
All of the above.
Complete the sentence: A business plan...
is useful once your business is operational but not much help during the startup phase
is not usually needed once the business is up and running
can serve as a tool for helping a business during the startup phase and for managing your business once it is up and running.
Refers to what you are selling, including all of the features, advantages and benefits that your customers can get.
Price
Packaging
Promotion
Product
Refers to the staff and salespeople who work for your business, including yourself.
Positioning
Promotion
Place
People
This refers to where your products and services are seen, made, sold or distributed
Promotion
Place
Positioning
People
It refers to methods you can use to let potential customer know about your products and services.
Promotion
Packaging
Positioning
Price
Which of these pieces of information would NOT be in a business plan put together by a new business?
Target market
Market research
Estimated cashflow
Profit
Which of the following is it OK to leave out of a business plan?
Purpose of the Business
Employees and their potential roles
A guide to start-up costs
Target Market
None of the above
Why is it important to have a business plan?
To identify opportunities and risks in the future
It is not very important
To appear professional
Why conduct market research?
To network with other businesses
To keep the Marketing Dept. busy
To identify what customers want/need
"People don't know what they want until you show it to them" - Who said this?
Bill Gates
Steve Jobs
Elon Musk
What is Marketing?
Connecting the business with customers
Buying products from a different country
Investing in Research & Development
A good business objective is a useful basis in constructing an effective business plan and strategy. (True/False)
(a)
Lack of commitment and dedication is one of the pitfalls in preparing a business plan.(True/False)
(a)
