Exam 7: The Business Plan: Creating and Starting the Venture

___________ is not one of the main perspectives an entrepreneur should consider when writing the business plan.

Revenue sources such as sales and any externally available funds should be included in the budget.

The business plan is a private document and should not be read by employees and customers.

Before writing the business plan an entrepreneur should conduct an objective self-assessment of his or her abilities which includes areas such as planning and sales skills.

The business plan presentation for potential investors:

The depth and detail in the business plan depend on the size and scope of the proposed new venture.

Steve Hafner founded Orbitz travel before founding Kayak a company that allows the user to view opportunities from multiple travel sites such as Orbitz,Expedia,and Priceline.

If the new venture is a manufacturing operation a(n)__________ in the business plan is necessary.

The business plan is designed to guide the entrepreneur:

List three sources of Financial and Industry Operating Ratios from the text.

_______ identifies potential hazards and alternative strategies to meet business plan goals and objectives.

It is recommended that an entrepreneur avoid using the Internet as a resource for finding information to write a business plan because the information found there is often incorrect and unreliable.

A quick feasibility study should be conducted before preparing the business plan to uncover possible barriers to success.

Distribution,pricing,and promotion of the product are discussed in which section of the plan?

In 2012 online retail sales increased by 15% over sales in 2011.

The introductory page of the business plan should contain the amount of financing needed.

_____________ are good sources of information for financial and industry operating ratios.

In building a marketing plan,the entrepreneur should use a process designed as a pyramid,starting with narrow data and working down to broader-based information.

Which U.S.Census publication provides information about production and shipments on a wide range of products?

______ control compares the cost figures estimated in the business plan with actual day-to-day operations costs.