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Business Plan Basics

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Questions and Answers

What is the purpose of a summary business plan?

To provide detailed information about the company's operations.

To outline the company's strategies for execution.

To acquaint employees with the business opportunity.

To attract potential investors by showcasing the business opportunity. (correct)

Who are the primary audiences for a firm's business plan?

Employees and competitors

Investors and competitors

Employees and investors (correct)

Customers and suppliers

What is the typical length of a full business plan?

10 to 15 pages

40 to 100 pages

25 to 35 pages (correct)

5 to 10 pages

What does an operational business plan provide a blueprint for?

Company's operations Signup and view all the answers

What does the executive summary provide busy readers with?

Overview of the entire business plan Signup and view all the answers

Why do companies in the early stages of development prepare a summary business plan?

To see if potential investors are interested in their idea. Signup and view all the answers

What is the purpose of a milestone in a business?

To identify the most important steps completed Signup and view all the answers

What is the main focus of an industry analysis in a business plan?

Breaking down the industry into segments Signup and view all the answers

Who do investors primarily look at when assessing a business plan?

The executive summary Signup and view all the answers

What is the purpose of an assumptions sheet in a business plan?

To explain critical financial assumptions Signup and view all the answers

How long does the oral presentation of a business plan typically last?

15 to 20 minutes Signup and view all the answers

What should be the quality of PowerPoint slides in a business plan presentation?

Sharp and not cluttered with material Signup and view all the answers