Question 1

Discuss the statement,"Writing a business plan is primarily an ongoing process and only secondarily the means to an outcome."

Accepted Answer

The writing process is just as important...

Question 2

The sources and uses table is a part of the ___________ of the business plan

Accepted Answer

A)  critical risks section
B)  offering section
C)  exit strategy
D)  financial planE) A) and C)
F) All of the above

Question 3

Business planning

Accepted Answer

A)  is an ongoing process.
B)  is an exacting science.
C)  equals business success.
D)  will prevent unexpected events.E) A) and B)
F) B) and D)

Question 4

Incubator organizations can provide advice on structuring a new business.

Accepted Answer

A) True 
 B)False  True

Question 5

When making a decision regarding the extent of planning,an entrepreneur should consider the

Accepted Answer

A)  preferences of employees.
B)  complexity of the environment.
C)  level of uncertainty of the venture.
D)  competitiveness of the product.E) A) and D)
F) B) and D) C

Question 6

The discussion of the opportunity in the business plan should reflect:

Accepted Answer

A)  how the product or service will fill a need.
B)  the amount of return the investors should receive.
C)  the potential and attractiveness of the market and industry.
D)  the entrepreneur's enthusiasm for the business idea.E) B) and C)
F) C) and D)

Question 7

The executive summary of a business plan presents a firm's history and its form of organization.

Accepted Answer

A) True 
 B)False

Question 8

The ______________ of a business plan identifies each of the succeeding sections and their page numbers.

Accepted Answer

A)  executive summary
B)  company description
C)  cover page
D)  table of contentsE) All of the above
F) B) and C)

Question 9

The cost structure of a business model

Accepted Answer

A)  defines the types of income.
B)  determines how much money is needed for positive cash flow.
C)  drives the company's cost and expenses.
D)  is the most critical component for long term success.E) B) and C)
F) B) and D)

Question 10

When describing the product in the business plan,the entrepreneur should

Accepted Answer

A)  use technical terms.
B)  state that product will sell itself.
C)  use layman terms.
D)  assume that others will like the product.E) A) and D)
F) B) and C)

Question 11

In Guy Kawasaki's 10/20/30 rule for pitches,the numbers stand for:​

Accepted Answer

A)  ​number of attendees/slides/minutes
B)  ​number of selling points/slides/font point size
C)  ​number of slides/minutes/font point size
D)  ​number of pictures/slides/minutesE) A) and D)
F) C) and D)

Question 12

The financial plan section of a business plan should include balance sheets and income statements on an annual basis and cash flow statements on a monthly basis,all projected out for 2-3 years.

Accepted Answer

A) True 
 B)False  False

Question 13

Information about the experience of key executives should be placed in the _______ of the business plan.

Accepted Answer

A)  executive summary
B)  management team section
C)  operations and development plan
D)  critical risks sectionE) All of the above
F) C) and D)

Question 14

Investors who review business plans typically

Accepted Answer

A)  cannot read through all they receive.
B)  read about one-half of a plan.
C)  read plans thoroughly.
D)  read only the marketing and finance sections.E) B) and D)
F) None of the above

Question 15

List five questions that a possible investor would want answered concerning the market of the new business.

Accepted Answer

Possible questions may include:

What i...

Question 16

Because Tom is planning a new business with a limited timeframe to capitalize on an opportunity,the best solution would be a ____ business plan.

Accepted Answer

A)  comprehensive
B)  narrative
C)  subjective
D)  shortE) A) and C)
F) A) and B)

Question 17

The ___________ type of executive summary is better suited to a business that intends to market a new product or enter a new market.

Accepted Answer

A)  informative
B)  synopsis
C)  narrative
D)  blendedE) All of the above
F) A) and D)

Question 18

The product/service plan section should include

Accepted Answer

A)  a description of the competition's products.
B)  a description of the company's own product or service.
C)  a listing of the weaknesses of the competition's product or service.
D)  a statement of how the company intends to capture market share.E) A) and B)
F) All of the above

Question 19

The document that assists an entrepreneur and the management team in focusing on important issues and activities is

Accepted Answer

A)  the organization chart.
B)  the budget.
C)  the sales analysis.
D)  the business plan.E) All of the above
F) B) and C)

Question 20

Once the decision is made to prepare a business plan,it should always be a comprehensive plan.

Accepted Answer

A) True 
 B)False

Exam 6: The Business Plan: Visualizing the Dream

Discuss the statement,"Writing a business plan is primarily an ongoing process and only secondarily the means to an outcome."

Correct AnswerverifiedThe writing process is just as important...View AnswerShow Answer

The sources and uses table is a part of the ___________ of the business plan

Correct AnswerverifiedShow Answer

Business planning

Correct AnswerverifiedShow Answer

Incubator organizations can provide advice on structuring a new business.

Correct AnswerverifiedTrue

When making a decision regarding the extent of planning,an entrepreneur should consider the

Correct AnswerverifiedC

The discussion of the opportunity in the business plan should reflect:

Correct AnswerverifiedShow Answer

The executive summary of a business plan presents a firm's history and its form of organization.

Correct AnswerverifiedShow Answer

The ______________ of a business plan identifies each of the succeeding sections and their page numbers.

Correct AnswerverifiedShow Answer

The cost structure of a business model

Correct AnswerverifiedShow Answer

When describing the product in the business plan,the entrepreneur should

Correct AnswerverifiedShow Answer

In Guy Kawasaki's 10/20/30 rule for pitches,the numbers stand for:​

Correct AnswerverifiedShow Answer

The financial plan section of a business plan should include balance sheets and income statements on an annual basis and cash flow statements on a monthly basis,all projected out for 2-3 years.

Correct AnswerverifiedFalse

Information about the experience of key executives should be placed in the _______ of the business plan.

Correct AnswerverifiedShow Answer

Investors who review business plans typically

Correct AnswerverifiedShow Answer

List five questions that a possible investor would want answered concerning the market of the new business.

Correct AnswerverifiedPossible questions may include:​What i...View AnswerShow Answer

Because Tom is planning a new business with a limited timeframe to capitalize on an opportunity,the best solution would be a ____ business plan.

Correct AnswerverifiedShow Answer

The ___________ type of executive summary is better suited to a business that intends to market a new product or enter a new market.

Correct AnswerverifiedShow Answer

The product/service plan section should include

Correct AnswerverifiedShow Answer

The document that assists an entrepreneur and the management team in focusing on important issues and activities is

Correct AnswerverifiedShow Answer

Once the decision is made to prepare a business plan,it should always be a comprehensive plan.

Correct AnswerverifiedShow Answer

Correct Answer
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The writing process is just as important...
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True

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C

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In Guy Kawasaki's 10/20/30 rule for pitches,the numbers stand for:

Correct Answer
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False

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Possible questions may include:

What i...
View Answer

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