Business Plan Presentation Elements Quiz
23 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

According to Joseph Alois Schumpeter, what does entrepreneurship involve?

  • Avoiding new markets
  • Implementing traditional methods of production
  • Introducing new goods (correct)
  • Utilizing existing organizations
  • What distinguishes an entrepreneur from a businessman?

  • Organizing ventures to benefit from opportunities (correct)
  • Having a high position in a company
  • Inventing new products
  • Working as an employee
  • What is the role of an 'imitating' entrepreneur?

  • Resist any changes in the organization
  • Discover new markets
  • Immediately copy new inventions made by innovative entrepreneurs (correct)
  • Invent new ideas
  • What does a 'drone' entrepreneur tend to be reluctant towards?

    <p>Implementing changes in the organization</p> Signup and view all the answers

    What is the primary purpose of a business plan?

    <p>To provide directions and avoid obstacles for the business</p> Signup and view all the answers

    Which type of entrepreneur is most likely to innovate and reorganize a company's structure?

    <p>Innovative entrepreneur</p> Signup and view all the answers

    What is the main focus of a vision statement?

    <p>Detailing the future aspirations of the organization</p> Signup and view all the answers

    Which element in a business plan describes the future end-state that supports the mission and vision?

    <p>Goals</p> Signup and view all the answers

    What defines objectives in a business context?

    <p>They are specific targets for short-term progress</p> Signup and view all the answers

    In a SWOT analysis, what does the 'W' stand for?

    <p>Weaknesses</p> Signup and view all the answers

    What differentiates a mission statement from a vision statement?

    <p>Mission is about what an organization wants to achieve today, while vision is about what it wants to become tomorrow.</p> Signup and view all the answers

    How do goals differ from objectives in a business plan?

    <p>Goals are aspirational, while objectives are realistic and achievable targets.</p> Signup and view all the answers

    Which of the following is NOT a type of Market Segmentation mentioned in the text?

    <p>Behavioral Segmentation</p> Signup and view all the answers

    What is the purpose of 'Positioning' in marketing?

    <p>To create an identity of the product within the customer's mind</p> Signup and view all the answers

    Which 'P' in the '8 P's of Marketing' relates to individual employees directly engaged in production, marketing, and sale?

    <p>People</p> Signup and view all the answers

    What does the 'T' stand for in SMART goals, as mentioned in the text?

    <p>Time-bound</p> Signup and view all the answers

    Which of the following is considered an intangible product according to the text?

    <p>Consulting Services</p> Signup and view all the answers

    What is the purpose of a feasibility study in the context of opening a new entrepreneurial venture?

    <p>To determine the viability and potential success of the proposed business concept</p> Signup and view all the answers

    Which of the following is a component typically included in a business plan?

    <p>Market research</p> Signup and view all the answers

    What is the main purpose of a business plan?

    <p>To outline the company's goals and strategy</p> Signup and view all the answers

    When is a feasibility study usually conducted in relation to a business plan?

    <p>During the exploration of a business idea</p> Signup and view all the answers

    Which section of a business plan usually presents the general perspective of the business?

    <p>Chapter 1: Introduction</p> Signup and view all the answers

    What aspect does a feasibility study primarily focus on when examining a proposed business concept?

    <p>Market research and financial projections</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Browser