Exam 12: Developing an Effective Business Plan

Which of the following statements about a business plan is True?

The cover page should bear

Which of the following statements may be the most important in new venture creation?

Sometimes a business plan is referred to as

A business plan must illustrate the current status of the venture but not the projected results.

How can entrepreneurs best orient their plans toward the future?

The manufacturing segment of the business plan should identify key personnel, their responsibilities and their positions, and career experience that qualifies them for those particular roles.

One thing that should be included in the business description is

Factors that must be addressed when planning a new venture include setting realistic goals, determining milestones, making a commitment, and having flexibility.

Planning is not essential to the success of an undertaking.

It is recommended that the final copy of the business plan be

Which of the following statements would not be an appropriate guideline for successful business plan development?

An important guideline in putting the plan together is

A lack of demonstrated experience, no clear market niche, a failure to anticipate roadblocks, no realistic goals set, and a lack of commitment are pitfalls or common points of failure that occur before an entrepreneur ever gets a plan reviewed.

The day of the presentation, the entrepreneur should arrive early to

Which of the following questions should an entrepreneur ask when a business plan is turned down?

Blueprints, sketches, drawings, and models are often important features to be placed in what section of the business plan?

One of the indicators of the failure to anticipate roadblocks is a lack of priorities.

It is important that an entrepreneur

Which of the following is a critical factor that should be discussed in the management segment?