Exam 4: Writing a Business Plan

The document that does the best job of introducing potential investors and other stakeholders with the business opportunity the firm is pursuing and how it plans to pursue it is the:

The ________ is a short overview of the entire business plan.

Which of the following is not one of the "red flags" listed in the textbook that raises questions about one of more aspects of a company's business plan?

For most new ventures, the business plan is a dual-purpose document used both inside and outside the firm.

Industry structure refers to how:

Which of the following is not an individual, group or institution that normally reads a company's business plan?

There are two primary audiences for a firm's business plan: a firm's employees and investors and other external stakeholders.

For most business plans, 25 to 35 pages are sufficient.

Which of the following is the main purpose for writing a business plan?

A(n) ________, which is typically 25 to 35 pages long, works best for new ventures who are at the point where they need funding or financing.

The executive summary is a lengthy overview of the entire business plan.

Edward Andrews has decided to write a business plan that is intended to be read primarily by his staff, which will present a blueprint for his company's entire operation and will provide guidance to operational managers. Edward should write a(n):

According to the textbook, in many instances an investor will first ask for a copy of a firm's ________ and will request a copy of the full business plan only if that portion of the plan is sufficiently convincing.

A(n) ________, which is intended to be a blueprint for a company's operations, is 40-100 pages long and is meant primarily for an internal audience.

According to the textbook, many investors and others who read business plans look first at the executive summary and then go directly to the ________ section of the business plan to make their preliminary assessment.

Which of the following statements is incorrect regarding business plans?

Experienced entrepreneurs often refer to business plans as "living, breathing documents." What is meant by this characterization of business plans?

The Partnering for Success feature in Chapter 4 focuses on the types of partnerships that are common in business plans. According to the feature, businesses often make partnering an essential part of their business plans because they:

According to the textbook, the executive summary is arguably the most important section of the business plan.

A competitor analysis, which is a detailed analysis of a firm's competitors, should be included in the market analysis section of its business plan.