Question 1

Describe why you do or do not believe that writing a business plan would be important to your business success.

Accepted Answer

It will help clarify the elements of the

Question 2

What is the typical length of a business plan?

Accepted Answer

A) 8 pages 
B) less than 10 pages 
C) 20 to 40 pages 
D) over 40 pages 
A) 8 pages 
B) less than 10 pages 
C) 20 to 40 pages 
D) over 40 pages

Question 3

Ultimately, what is the most important element of a business plan?

Accepted Answer

A) The ability to have a document to use in your presentations. 
B) The formalization of your plan. 
C) The exploration, experimentation, and market research that went into creating it. 
D) Knowing why you need the plan. 
A) The ability to have a document to use in your presentations. 
B) The formalization of your plan. 
C) The exploration, experimentation, and market research that went into creating it. 
D) Knowing why you need the plan.

Question 4

Which of the following did Bark 'N Leash investigate as part of the planning?

Accepted Answer

A) financial costs of franchises offering the same service 
B) services, staff, pricing, location, schedules of local competitors 
C) a similar service in another part of the country 
D) willingness of local veterinarian offices to refer their clients 
A) financial costs of franchises offering the same service 
B) services, staff, pricing, location, schedules of local competitors 
C) a similar service in another part of the country 
D) willingness of local veterinarian offices to refer their clients

Question 5

In the business brief for India in a Box, the owner placed the following under Actions Taken:

Accepted Answer

A) product, co-packers, supply chain, sales 
B) startup plan, business loans, founding team 
C) product, market suppliers 
D) legal setup, product, target market description 
A) product, co-packers, supply chain, sales 
B) startup plan, business loans, founding team 
C) product, market suppliers 
D) legal setup, product, target market description

Question 6

What is described in the business concept of the business plan?

Accepted Answer

A) the industry, structure, products, services 
B) a description of potential customers, plan implementation 
C) the overall implementation plan 
D) the operations and management 
A) the industry, structure, products, services 
B) a description of potential customers, plan implementation 
C) the overall implementation plan 
D) the operations and management

Question 7

Vivian decides to engage in a Vivid Vision exercise.She imagines where her company will be in 3 years.Afterward, she places the notes from her Vivid Vision in her top desk drawer where she can refer to them frequently.What suggestion would you have for Vivian that would help her process?

Accepted Answer

A) Revisit the vision every 6 months to make sure you are still on track. 
B) Share the vision with other founders, but keep it secret in case the vision is not fulfilled. 
C) Share your vision with others to make the vision more real. 
D) Focus on a shorter time period, about a year, so that the timeline is more realistic. 
A) Revisit the vision every 6 months to make sure you are still on track. 
B) Share the vision with other founders, but keep it secret in case the vision is not fulfilled. 
C) Share your vision with others to make the vision more real. 
D) Focus on a shorter time period, about a year, so that the timeline is more realistic.

Question 8

Why would someone write a business plan just for themselves?

Accepted Answer

A) It helps question the validity of one's ideas, markets, and customers. 
B) It helps generate more ideas. 
C) It documents opportunities. 
D) It helps launch the idea faster. 
A) It helps question the validity of one's ideas, markets, and customers. 
B) It helps generate more ideas. 
C) It documents opportunities. 
D) It helps launch the idea faster.

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

A two to three page document outlining the company's value propositions, customers, and milestones is referred to as a:

Accepted Answer

A) back of the napkin 
B) visioning 
C) business brief 
D) feasibility study 
A) back of the napkin 
B) visioning 
C) business brief 
D) feasibility study

Question 11

The distinction of a feasibility study is its ______.

Accepted Answer

A) formality 
B) completeness 
C) complexity 
D) speed 
A) formality 
B) completeness 
C) complexity 
D) speed

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

Why do you want to remove any fluff from your business plan?

Accepted Answer

A) You do not want to sound decorative. 
B) It is best to use indirect language. 
C) Fluff can take away from the main message. 
D) Your audience may be excellent writers. 
A) You do not want to sound decorative. 
B) It is best to use indirect language. 
C) Fluff can take away from the main message. 
D) Your audience may be excellent writers.

Question 14

Which of the following is typically NOT an element of the feasibility study?

Accepted Answer

A) determining if it will be attractive to investors 
B) Determining the existence of a long-term market 
C) determining if it is doable-can one continue doing it for a long time 
D) understanding the problem being addressed by the product or service 
A) determining if it will be attractive to investors 
B) Determining the existence of a long-term market 
C) determining if it is doable-can one continue doing it for a long time 
D) understanding the problem being addressed by the product or service

Question 15

A document of no more than 10 pages, this tool answers essential questions with data from interactions with potential customers, suppliers, distributors, and others.

Accepted Answer

A) the business brief 
B) back of the napkin 
C) feasibility study 
D) business model 
A) the business brief 
B) back of the napkin 
C) feasibility study 
D) business model

Question 16

To what can be attributed as a main cause of success of Bark 'N Leash?

Accepted Answer

A) analysis of the market before defining the business 
B) minimal competition in the area 
C) heavy demand for her service 
D) business experience in a similar industry 
A) analysis of the market before defining the business 
B) minimal competition in the area 
C) heavy demand for her service 
D) business experience in a similar industry

Question 17

Sean decides to engage in a Vivid Vision exercise.He imagines where his company will be in 10 years.He imagines press releases, his products, leadership style, communications, and customer service.What suggestion would you have for Sean that would help his process?

Accepted Answer

A) Include the plan for attaining customers in the visioning, not just the service itself. 
B) Map out major goals and the people who will help you in this vision. 
C) Focus on a shorter timeframe to make the visioning realistic while still stretching into the future. 
D) Identify the mentors who will advise you along the way. 
A) Include the plan for attaining customers in the visioning, not just the service itself. 
B) Map out major goals and the people who will help you in this vision. 
C) Focus on a shorter timeframe to make the visioning realistic while still stretching into the future. 
D) Identify the mentors who will advise you along the way.

Question 18

Describe how you would incorporate ethics into the plan for your business.

Accepted Answer

Most ethical decisions are in the "gray

Question 19

What is described in the Marketing Plan section of the business plan?

Accepted Answer

A) the industry, structure, products, services 
B) a description of potential customers and competitors 
C) the overall description of customers and the implementation plan 
D) the operations and customer service 
A) the industry, structure, products, services 
B) a description of potential customers and competitors 
C) the overall description of customers and the implementation plan 
D) the operations and customer service

Question 20

Which of the following would be most appropriate to present in a collegiate competition for entrepreneurial funding?

Accepted Answer

A) concept plan 
B) feasibility plan 
C) pitch deck 
D) business model 
A) concept plan 
B) feasibility plan 
C) pitch deck 
D) business model

Describe why you do or do not believe that writing a business plan would be important to your business success.

What is the typical length of a business plan?

Ultimately, what is the most important element of a business plan?

Which of the following did Bark 'N Leash investigate as part of the planning?

In the business brief for India in a Box, the owner placed the following under Actions Taken:

What is described in the business concept of the business plan?

Vivian decides to engage in a Vivid Vision exercise.She imagines where her company will be in 3 years.Afterward, she places the notes from her Vivid Vision in her top desk drawer where she can refer to them frequently.What suggestion would you have for Vivian that would help her process?

Why would someone write a business plan just for themselves?

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

A two to three page document outlining the company's value propositions, customers, and milestones is referred to as a:

The distinction of a feasibility study is its ______.

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

Why do you want to remove any fluff from your business plan?

Which of the following is typically NOT an element of the feasibility study?

A document of no more than 10 pages, this tool answers essential questions with data from interactions with potential customers, suppliers, distributors, and others.

To what can be attributed as a main cause of success of Bark 'N Leash?

Sean decides to engage in a Vivid Vision exercise.He imagines where his company will be in 10 years.He imagines press releases, his products, leadership style, communications, and customer service.What suggestion would you have for Sean that would help his process?

Describe how you would incorporate ethics into the plan for your business.

What is described in the Marketing Plan section of the business plan?

Which of the following would be most appropriate to present in a collegiate competition for entrepreneurial funding?

Entrepreneurship: a Global Social Movement

Practicing Entrepreneurship

Developing an Entrepreneurial Mindset

Supporting Social Entrepreneurship

Generating New Ideas

Using Design Thinking

Testing and Experimenting in Markets

Building Business Models

Creating Revenue Models

Learning From Failure

Bootstrapping for Resources

Financing for Startups

Developing Networks

Navigating Legal and Ip Issues

Marketing and Pitching Your Idea

Financial Statements and Projections for Startups

the Pitch Deck

Filters

Exam 9: Planning for Entrepreneurs

Describe why you do or do not believe that writing a business plan would be important to your business success.

What is the typical length of a business plan?

Ultimately, what is the most important element of a business plan?

Which of the following did Bark 'N Leash investigate as part of the planning?

In the business brief for India in a Box, the owner placed the following under Actions Taken:

What is described in the business concept of the business plan?

Vivian decides to engage in a Vivid Vision exercise.She imagines where her company will be in 3 years.Afterward, she places the notes from her Vivid Vision in her top desk drawer where she can refer to them frequently.What suggestion would you have for Vivian that would help her process?

Why would someone write a business plan just for themselves?

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

A two to three page document outlining the company's value propositions, customers, and milestones is referred to as a:

The distinction of a feasibility study is its ______.

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

Why do you want to remove any fluff from your business plan?

Which of the following is typically NOT an element of the feasibility study?

A document of no more than 10 pages, this tool answers essential questions with data from interactions with potential customers, suppliers, distributors, and others.

To what can be attributed as a main cause of success of Bark 'N Leash?

Sean decides to engage in a Vivid Vision exercise.He imagines where his company will be in 10 years.He imagines press releases, his products, leadership style, communications, and customer service.What suggestion would you have for Sean that would help his process?

Describe how you would incorporate ethics into the plan for your business.

What is described in the Marketing Plan section of the business plan?

Which of the following would be most appropriate to present in a collegiate competition for entrepreneurial funding?

Entrepreneurship: a Global Social Movement

Practicing Entrepreneurship

Developing an Entrepreneurial Mindset

Supporting Social Entrepreneurship

Generating New Ideas

Using Design Thinking

Testing and Experimenting in Markets

Building Business Models

Creating Revenue Models

Learning From Failure

Bootstrapping for Resources

Financing for Startups

Developing Networks

Navigating Legal and Ip Issues

Marketing and Pitching Your Idea

Financial Statements and Projections for Startups

the Pitch Deck

Filters