Question 1

Santiago created a ______ when he wrote down the vision for his product including the features of the product and target market.

Accepted Answer

A) cash flow statement 
B) feasibility statement 
C) concept statement 
D) market statement 
A) cash flow statement 
B) feasibility statement 
C) concept statement 
D) market statement

Question 2

The part of the formal business plan in which you discuss the industry,business structure,products and services,and how you plan to make your business a success is called the ______.

Accepted Answer

A) market plan 
B) business concept 
C) business brief 
D) financial statement 
A) market plan 
B) business concept 
C) business brief 
D) financial statement

Question 3

The pitch deck is a presentation highlighting many of the essential elements found in a feasibility study and a business plan.

Accepted Answer

A) True 
 B)False

Question 4

All business planning starts with a ______.

Accepted Answer

A) need 
B) team 
C) written document 
D) vision 
A) need 
B) team 
C) written document 
D) vision

Question 5

How many slides do pitch decks need to have?

Accepted Answer

A) 5 
B) 10 
C) 25 
D) There are no strict rules for pitch deck length. 
A) 5 
B) 10 
C) 25 
D) There are no strict rules for pitch deck length.

Question 6

The purpose of the feasibility study is to provide a short-term plan for launching your business.

Accepted Answer

A) True 
 B)False

Question 7

What is included in the financial section of a business plan?

Accepted Answer

A) the industry,business structure,and products and services 
B) a description of potential customers and competitors 
C) income and cash flow,balance sheets,and financial projections 
D) financial projections only 
A) the industry,business structure,and products and services 
B) a description of potential customers and competitors 
C) income and cash flow,balance sheets,and financial projections 
D) financial projections only

Question 8

Key partners is an aspect of what type of plan?

Accepted Answer

A) the Business Model Canvas 
B) the business brief 
C) the feasibility study 
D) the pitch deck 
A) the Business Model Canvas 
B) the business brief 
C) the feasibility study 
D) the pitch deck

Question 9

David writes the following at the start of his business plan: "Computers are used by almost everyone in today's tech-savvy world.Computers are here to stay." What advice would you give David?

Accepted Answer

A) Reserve this statement for the marketing section of the business plan. 
B) Revise this statement to explain why computers are here to stay. 
C) Remove the statement.It does not communicate new information. 
D) Keep the statement where it is as it will help establish the market size. 
A) Reserve this statement for the marketing section of the business plan. 
B) Revise this statement to explain why computers are here to stay. 
C) Remove the statement.It does not communicate new information. 
D) Keep the statement where it is as it will help establish the market size.

Question 10

The first part of the formal business plan is ______.

Accepted Answer

A) the market section 
B) a description of how you intend to design,develop,and implement the plan 
C) the business concept 
D) the financial section 
A) the market section 
B) a description of how you intend to design,develop,and implement the plan 
C) the business concept 
D) the financial section

Question 11

A good reason to not write a formal business plan is ______.

Accepted Answer

A) the plan costs too much 
B) the team is not complete 
C) the plan is old as soon as it comes off the printer 
D) the data do not support the financial projections 
A) the plan costs too much 
B) the team is not complete 
C) the plan is old as soon as it comes off the printer 
D) the data do not support the financial projections

Question 12

What is the plan depicted on one page by filling in the nine blocks of the business model?

Accepted Answer

A) business brief 
B) outline 
C) Business Model Canvas 
D) back-of-the-napkin plan 
A) business brief 
B) outline 
C) Business Model Canvas 
D) back-of-the-napkin plan

Question 13

When writing a business plan,you should be ______ about the chance for success.

Accepted Answer

A) bullish 
B) neutral 
C) conservative 
D) realistic 
A) bullish 
B) neutral 
C) conservative 
D) realistic

Question 14

An entrepreneur must create a single business plan that will work for all audiences.

Accepted Answer

A) True 
 B)False

Question 15

The authors advise writing a formal business plan before testing ideas in the real world.

Accepted Answer

A) True 
 B)False

Question 16

Nan presents her plan for a slip-on shoe that is water repellent,inexpensive,and highly fashionable.She believes that the market for the product is "everyone in the city of Seattle." Because of this,she forecasts that she will capture 40 percent of the market.What is the business plan error that Nan is incurring?

Accepted Answer

A) too much fluff in the presentation 
B) no clear product benefits 
C) the exaggerated hockey stick 
D) There is no error.This is a reasonable estimate. 
A) too much fluff in the presentation 
B) no clear product benefits 
C) the exaggerated hockey stick 
D) There is no error.This is a reasonable estimate.

Question 17

Explain the importance of planning for entrepreneurs.

Accepted Answer

From an entrepreneurial perspective,plan

Question 18

Experts today are unanimous: the business plan is a critical first step for a successful entrepreneur.

Accepted Answer

A) True 
 B)False

Question 19

The pitch deck has replaced the formal business plan in most venues.

Accepted Answer

A) True 
 B)False

Question 20

All experts agree that writing a formal business plan is necessary for the success of a startup.

Accepted Answer

A) True 
 B)False

Santiago created a ______ when he wrote down the vision for his product including the features of the product and target market.

The part of the formal business plan in which you discuss the industry,business structure,products and services,and how you plan to make your business a success is called the ______.

The pitch deck is a presentation highlighting many of the essential elements found in a feasibility study and a business plan.

All business planning starts with a ______.

How many slides do pitch decks need to have?

The purpose of the feasibility study is to provide a short-term plan for launching your business.

What is included in the financial section of a business plan?

Key partners is an aspect of what type of plan?

David writes the following at the start of his business plan: "Computers are used by almost everyone in today's tech-savvy world.Computers are here to stay." What advice would you give David?

The first part of the formal business plan is ______.

A good reason to not write a formal business plan is ______.

What is the plan depicted on one page by filling in the nine blocks of the business model?

When writing a business plan,you should be ______ about the chance for success.

An entrepreneur must create a single business plan that will work for all audiences.

The authors advise writing a formal business plan before testing ideas in the real world.

Explain the importance of planning for entrepreneurs.

Experts today are unanimous: the business plan is a critical first step for a successful entrepreneur.

The pitch deck has replaced the formal business plan in most venues.

All experts agree that writing a formal business plan is necessary for the success of a startup.

Practicing Entrepreneurship

Activating an Entrepreneurial Mindset

Creating and Recognizing New Opportunities

Using Design Thinking

Building Business Models

Developing Your Customers

Testing and Experimenting With New Ideas

Developing Networks and Building Teams

Creating Revenue Models

Anticipating Failure

Bootstrapping and Crowdfunding for Resources

Financing for Startups

Navigating Legal and Ip Issues

Engaging Customers Through Marketing

Supporting Social Entrepreneurship

Financial Statements and Projections for Startups

The Pitch Deck

Filters

Exam 10: Planning for Entrepreneurs

Santiago created a ______ when he wrote down the vision for his product including the features of the product and target market.

The part of the formal business plan in which you discuss the industry,business structure,products and services,and how you plan to make your business a success is called the ______.

The pitch deck is a presentation highlighting many of the essential elements found in a feasibility study and a business plan.

All business planning starts with a ______.

How many slides do pitch decks need to have?

The purpose of the feasibility study is to provide a short-term plan for launching your business.

What is included in the financial section of a business plan?

Key partners is an aspect of what type of plan?

David writes the following at the start of his business plan: "Computers are used by almost everyone in today's tech-savvy world.Computers are here to stay." What advice would you give David?

The first part of the formal business plan is ______.

A good reason to not write a formal business plan is ______.

What is the plan depicted on one page by filling in the nine blocks of the business model?

When writing a business plan,you should be ______ about the chance for success.

An entrepreneur must create a single business plan that will work for all audiences.

The authors advise writing a formal business plan before testing ideas in the real world.

Explain the importance of planning for entrepreneurs.

Experts today are unanimous: the business plan is a critical first step for a successful entrepreneur.

The pitch deck has replaced the formal business plan in most venues.

All experts agree that writing a formal business plan is necessary for the success of a startup.

Practicing Entrepreneurship

Activating an Entrepreneurial Mindset

Creating and Recognizing New Opportunities

Using Design Thinking

Building Business Models

Developing Your Customers

Testing and Experimenting With New Ideas

Developing Networks and Building Teams

Creating Revenue Models

Anticipating Failure

Bootstrapping and Crowdfunding for Resources

Financing for Startups

Navigating Legal and Ip Issues

Engaging Customers Through Marketing

Supporting Social Entrepreneurship

Financial Statements and Projections for Startups

The Pitch Deck

Filters