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Business Plan

Total questions: 11

Worksheet time: 6mins

Name
Class
Date
1.

It details how the proposed business will sell its product to the target consumer.

a)

Marketing Plan

b)

Financial Plan

c)

Organizational Plan

d)

Introduction

2.

What is a business plan?

a)

Written document that only outlines the business practices of the new business.

b)

Written document that describes the financial aspects of the business.

c)

Written document that only describes the ownership of the business.

d)

Written document that describes all the steps necessary for opening and operating a successful business.

3.

Why do you need a business plan?

a)

To explain your idea

b)

the ability to get financing.

c)

it's a road map that sets objectives and goals for the business.

d)

To help reduce the risk of business failure.

e)

All of the above.

4.

Complete the sentence: A business plan...

a)

is useful once your business is operational but not much help during the startup phase

b)

is not usually needed once the business is up and running

c)

can serve as a tool for helping a business during the startup phase and for managing your business once it is up and running.

5.
An analysis of the business’s advantage over its competitors
a)
Growth Plan
b)
Competitive Analysis
c)
Contingency Plan
d)
Market Analysis
6.
How a company will make customers aware of its products/services
a)
Marketing Plan
b)
Industry Overview
c)
Product and Service Plan
d)
Growth Plan
7.
A brief account of the key points contained in a business plan
a)
Executive Summary
b)
Company Description
c)
Mission Statement
d)
Vision Statement
8.
A description of the product or service to be offered
a)
Operational Plan
b)
Marketing Plan
c)
Product and Service Plan
d)
Industry Overview
9.
Research of the potential customer’s profile
a)
Market Analysis
b)
Marketing Plan
c)
Mission Statement
d)
Growth Plan
10.
The specific aspirations of a company, the major goals it will try to reach.
a)
Vision Statement
b)
Company Description
c)
Mission Statement
d)
Executive Summary
11.

What are the two types of ways to make money?

a)

Product and Surveys

b)

Product and Service

c)

Payment and Service

d)

Paypal and Service