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Worksheetschapter 3: development of business plan
Total questions: 15
Worksheet time: 8mins
Refers to what you are selling, including all of the features, advantages and benefits that your customers can get.
Price
Packaging
Promotion
Product
It details how the proposed business will sell its product to the target consumer.
Marketing Plan
Financial Plan
Organizational Plan
Introduction
Refers to the staff and salespeople who work for your business, including yourself.
Positioning
Promotion
Place
People
It may come in the form of a sole proprietorship, a partnership, or a corporation.
Roles and Responsibility
Form of the Business
Organizational Structure
Liability of the Owner
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.
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
All of the above
Which of the following statements about business plans is TRUE?
Business plans eliminate risk to lenders
Business plans reduce risk to lenders
Business plans increase risk to lenders
Business plans have no impact on risk to lenders
Which of these pieces of information would NOT be in a business plan put together by a new business?
Target market
Market research
Profit
Estimated cashflow
A ____________________________ describes the nature of your business and list the marketplace needs that you are trying to satisfy.
Market Analysis
Financial Reports
Appendix
Company Description
