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WorksheetsBusiness Plan and components
Total questions: 14
Worksheet time: 7mins
What is a business plan?
A document for internal communication
A proposal that describes a new business
A diary of an entrepreneur
A report for completed projects
Why do bankers and lenders require a business plan?
To obtain financing
To evaluate the entrepreneur's commitment
To understand the market trends
For entertainment purposes
What is NOT a purpose of a business plan?
To serve as a personal journal for the entrepreneur
To obtain financing
To help entrepreneurs organize and analyze data
To provide a start-up proposal
What does the executive summary in a business plan include?
A detailed financial plan
A brief description of key points of each section
A list of potential investors
An autobiography of the entrepreneur
What is presented in the product/service plan of a business plan?
Market share analysis
Product or service being offered
Employee handbook
Annual profit forecasts
What does the management team plan present?
Environmental impact assessments
Qualifications of the entrepreneurs
Customer service protocols
Social media marketing strategies
What is analyzed in the industry/market analysis section?
Employee satisfaction
Office layouts
The competition and customers
Historical financial data
What does the operational plan section include?
Celebrity endorsements
Break-even analysis
Processes involved in delivering the product/service
Annual leave policies
What is included in the organizational plan?
List of office supplies
Daily routines of employees
Key management personnel
Favorite recipes of the founder
What does the marketing plan describe?
Employee of the month criteria
The history of the industry
The founder's vision and mission
How the business will make customers aware of its products/services
What is included in the financial plan section?
Philosophical quotes about money
A collection of tax returns
Financial statements forecasting the business's future
A list of all employees' salaries
What does the growth plan present?
Historical landmarks in the industry
A timeline of the entrepreneur's life
Retirement plans for employees
Plans for future expansion of the business
What is NOT a component of a business plan?
Executive summary
Favorite book list of the entrepreneur
Product/service plan
Marketing plan
Why is planning essential to the success of any business?
It is not essential; improvisation is key
To ensure legal compliance
To organize and analyze data critical to success
To provide a start-up proposal
