Question 1

What are some of the start-up problems that should be addresses in a small business plan? Identify and describe three.

Accepted Answer

The most common start-up problems all have to do with poor planning. These problems include insufficient capital to meet the needs of the venture, poor understanding of the target market, poor understanding of the target consumer, poor alignment of management incentives, and the lack of milestones by which the entrepreneur can judge their success to date.

Question 2

The __________ section of a business plan defines specific objectives and the timing of their accomplishment.

Accepted Answer

A)  Long Term Plan 
B)  Harvest Strategy 
C)  Milestone Schedule 
D)  Financial Forecasting 
A)  Long Term Plan 
B)  Harvest Strategy 
C)  Milestone Schedule 
D)  Financial Forecasting C

Question 3

It is not important to convince investors that sales projections can be met and competition can be beaten

Accepted Answer

A) True 
 B)False  False

Question 4

A business plan must have realistic goals that are:

Accepted Answer

A)  Specific 
B)  Measurable 
C)  Set within time parameters 
D)  All of the above 
A)  Specific 
B)  Measurable 
C)  Set within time parameters 
D)  All of the above

Question 5

The __________ section of a business plan must discuss not only market strategy, sales and distribution, pricing, advertising, promotion, and public relations, but also cover all research and analysis regarding the target market.

Accepted Answer

A)  Executive Summary 
B)  Marketing 
C)  Operations 
D)  Research, design, and development 
A)  Executive Summary 
B)  Marketing 
C)  Operations 
D)  Research, design, and development

Question 6

The __________ section of a business plan identifies the optimal location for a venture, as well as requirements and costs of necessary production facilities and equipment.

Accepted Answer

A)  Executive Summary 
B)  Operation 
C)  Critical Risks 
D)  Descriptions of the business 
A)  Executive Summary 
B)  Operation 
C)  Critical Risks 
D)  Descriptions of the business

Question 7

The __________ section of a business plan supplies readers with pro forma financial statements, such as forecasted statements of earnings, financial position, and cash flows, all of which should help to illustrate the financial achievements expected from the business

Accepted Answer

A)  Operation 
B)  Harvest Strategy 
C)  Financial Forecasting 
D)  Marketing 
A)  Operation 
B)  Harvest Strategy 
C)  Financial Forecasting 
D)  Marketing

Question 8

The __________ section of a business plan should identify and discuss any potential challenges that the venture might fact, before investors point them out.

Accepted Answer

A)  Critical Risks Segment 
B)  Appendix 
C)  Marketing 
D)  Executive Summary 
A)  Critical Risks Segment 
B)  Appendix 
C)  Marketing 
D)  Executive Summary

Question 9

Of what value is a projected income statement to a small business plan? What parts of the plan does it support?

Accepted Answer

A projected income statement answers the

Question 10

Readers of a business plan expect it to have two important qualities: It must be _________ and it must be ___________. (Select 2)

Accepted Answer

A)  Organized 
B)  Colorful 
C)  Modular 
D)  Complete 
A)  Organized 
B)  Colorful 
C)  Modular 
D)  Complete

Question 11

A __________ should directly follow the Executive Summary.

Accepted Answer

A)  Vision statement 
B)  Table of contents 
C)  Thank you letter 
D)  Biography of the entrepreneur 
A)  Vision statement 
B)  Table of contents 
C)  Thank you letter 
D)  Biography of the entrepreneur

Question 12

The Executive Summary is the last section of a business plan.

Accepted Answer

A) True 
 B)False

Question 13

The Marketing section should cover both Market Research and Market Analysis.

Accepted Answer

A) True 
 B)False

Question 14

The emphasis of a business plan should be on the ____________of a venture.

Accepted Answer

A)  Ideation 
B)  Finances 
C)  Marketing 
A)  Ideation 
B)  Finances 
C)  Marketing

Question 15

Which part of a business plan would deal with purchasing and inventory control?

Accepted Answer

A)  Marketing 
B)  Financial forecasting 
C)  Operations 
D)  Harvest strategy 
A)  Marketing 
B)  Financial forecasting 
C)  Operations 
D)  Harvest strategy

Question 16

Experts disagree that business plans and business models are both important and both play critical roles within new ventures.

Accepted Answer

A) True 
 B)False

Question 17

The __________ section of a business plan contains a more comprehensive account of the venture and the mission of the proposed business model.

Accepted Answer

A)  Executive Summary 
B)  Operation 
C)  Critical Risks 
D)  Descriptions of the business 
A)  Executive Summary 
B)  Operation 
C)  Critical Risks 
D)  Descriptions of the business

Question 18

The __________ section of a business plan projects a long term plan for how the entrepreneur(s) will benefit from the success of the venture.

Accepted Answer

A)  Executive Summary 
B)  Long term plan 
C)  Harvest Strategy 
D)  Financial Forecasting 
A)  Executive Summary 
B)  Long term plan 
C)  Harvest Strategy 
D)  Financial Forecasting

Question 19

A business plan is best described as a written document that describes in detail a proposed venture and its purpose is to illustrate the current status, expected needs, and projected results of a new or expanding business.

Accepted Answer

A) True 
 B)False

Question 20

An executive summary should be no longer than:

Accepted Answer

A)  One page 
B)  Two pages 
C)  Three pages 
D)  Four pages 
A)  One page 
B)  Two pages 
C)  Three pages 
D)  Four pages

What are some of the start-up problems that should be addresses in a small business plan? Identify and describe three.

The __________ section of a business plan defines specific objectives and the timing of their accomplishment.

It is not important to convince investors that sales projections can be met and competition can be beaten

A business plan must have realistic goals that are:

The __________ section of a business plan must discuss not only market strategy, sales and distribution, pricing, advertising, promotion, and public relations, but also cover all research and analysis regarding the target market.

The __________ section of a business plan identifies the optimal location for a venture, as well as requirements and costs of necessary production facilities and equipment.

The __________ section of a business plan supplies readers with pro forma financial statements, such as forecasted statements of earnings, financial position, and cash flows, all of which should help to illustrate the financial achievements expected from the business

The __________ section of a business plan should identify and discuss any potential challenges that the venture might fact, before investors point them out.

Of what value is a projected income statement to a small business plan? What parts of the plan does it support?

Readers of a business plan expect it to have two important qualities: It must be _ and it must be ___. (Select 2)

A __________ should directly follow the Executive Summary.

The Executive Summary is the last section of a business plan.

The Marketing section should cover both Market Research and Market Analysis.

The emphasis of a business plan should be on the ____________of a venture.

Which part of a business plan would deal with purchasing and inventory control?

Experts disagree that business plans and business models are both important and both play critical roles within new ventures.

The __________ section of a business plan contains a more comprehensive account of the venture and the mission of the proposed business model.

The __________ section of a business plan projects a long term plan for how the entrepreneur(s) will benefit from the success of the venture.

A business plan is best described as a written document that describes in detail a proposed venture and its purpose is to illustrate the current status, expected needs, and projected results of a new or expanding business.

An executive summary should be no longer than:

New Ventures: The Quiet Giant

Ideation: The Concept

Venture Choices

Marketing: The Customer

Legal Considerations: The Parameters

Strategic Pricing: The Hook

Startup Capital: The Injection

Financial Statements: The Scorecard

Financial Analysis: The Gauges

HR and the Development of Teams: The People

Scaling Ventures: The Future

Filters

Exam 11: Successful Business Plans: The Compass

What are some of the start-up problems that should be addresses in a small business plan? Identify and describe three.

The __________ section of a business plan defines specific objectives and the timing of their accomplishment.

It is not important to convince investors that sales projections can be met and competition can be beaten

A business plan must have realistic goals that are:

The __________ section of a business plan must discuss not only market strategy, sales and distribution, pricing, advertising, promotion, and public relations, but also cover all research and analysis regarding the target market.

The __________ section of a business plan identifies the optimal location for a venture, as well as requirements and costs of necessary production facilities and equipment.

The __________ section of a business plan supplies readers with pro forma financial statements, such as forecasted statements of earnings, financial position, and cash flows, all of which should help to illustrate the financial achievements expected from the business

The __________ section of a business plan should identify and discuss any potential challenges that the venture might fact, before investors point them out.

Of what value is a projected income statement to a small business plan? What parts of the plan does it support?

Readers of a business plan expect it to have two important qualities: It must be _________ and it must be ___________. (Select 2)

A __________ should directly follow the Executive Summary.

The Executive Summary is the last section of a business plan.

The Marketing section should cover both Market Research and Market Analysis.

The emphasis of a business plan should be on the ____________of a venture.

Which part of a business plan would deal with purchasing and inventory control?

Experts disagree that business plans and business models are both important and both play critical roles within new ventures.

The __________ section of a business plan contains a more comprehensive account of the venture and the mission of the proposed business model.

The __________ section of a business plan projects a long term plan for how the entrepreneur(s) will benefit from the success of the venture.

A business plan is best described as a written document that describes in detail a proposed venture and its purpose is to illustrate the current status, expected needs, and projected results of a new or expanding business.

An executive summary should be no longer than:

New Ventures: The Quiet Giant

Ideation: The Concept

Venture Choices

Marketing: The Customer

Legal Considerations: The Parameters

Strategic Pricing: The Hook

Startup Capital: The Injection

Financial Statements: The Scorecard

Financial Analysis: The Gauges

HR and the Development of Teams: The People

Scaling Ventures: The Future

Filters

Readers of a business plan expect it to have two important qualities: It must be _ and it must be ___. (Select 2)