Business Plan vs Feasibility Study Quiz

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What is the purpose of the feasibility study in the business planning process?

To market the business

To determine the profitability of the business

To test the possibility of the business (correct)

To prepare the business plan

How does the feasibility study differ from the business plan?

The feasibility study is more detailed than the business plan (correct)

The feasibility study and business plan are the same thing

The business plan is more detailed than the feasibility study

The feasibility study is not related to the business plan

Which of the following is not usually included in the business plan?

Address of the business

Executive summary

Names of the business owners (correct)

Marketing research

Which of the following is typically included in the business description section of the business plan?

The funding source and requirements Signup and view all the answers

What is the purpose of the executive summary in a business plan?

To summarize the key points of the business plan Signup and view all the answers

What is the relationship between the business plan and feasibility study?

The business plan and feasibility study are entirely different Signup and view all the answers

What must the executive summary include according to the text?

Vision, mission, goals, and objectives of the business Signup and view all the answers

How often should the vision, mission, goals, and objectives be reviewed and revisited?

At least every three years Signup and view all the answers

What does the business model define according to the text?

The perspective of the business in terms of structure, production, operation, and financial activities Signup and view all the answers

What is the purpose of the business model template shown in the figure?

To provide a visual representation of the business model Signup and view all the answers

What is the relationship between the business model and the vision, mission, goals, and objectives?

The business model helps achieve the vision, mission, goals, and objectives Signup and view all the answers

What is the purpose of the executive summary according to the text?

To attract interest from investors, creditors, and other significant parties Signup and view all the answers

What is the primary purpose of the executive summary in a business plan?

To highlight the overall key points and provide an overview Signup and view all the answers

Which of the following should be avoided when writing the executive summary?

Providing a summary of the different major sections Signup and view all the answers

When is the executive summary typically written?

After all other major parts have been completed Signup and view all the answers

What is the purpose of the positioning map mentioned in the text?

To understand the business's position against competitors Signup and view all the answers

What analysis suggests that a business will not be created if there are no consumers or buyers for the product?

Environmental analysis Signup and view all the answers

Which of the following sections should be completed before writing the executive summary?

All other major parts Signup and view all the answers

Which of the following statements accurately describes collaboration within the group?

Some tasks were not answered correctly, and only some group members were cooperative. Signup and view all the answers

What does the text suggest about the cleanliness of the final output?

There were some erasures in the final output, but it was generally clean. Signup and view all the answers

Which of the following statements is true about the errors in the output?

There were 2 or 3 errors in the output. Signup and view all the answers

What is the main focus of the module discussed in the text?

Executive summary, environmental analysis, and business description preparation. Signup and view all the answers

Which of the following is NOT listed as one of the objectives of the lesson?

Analyze the errors and cleanliness of the final output. Signup and view all the answers

Based on the text, what can be inferred about the level of collaboration within the group?

Collaboration was moderate, with some members contributing more than others. Signup and view all the answers

What is the expected increase in the interest rate within two years?

15 percent Signup and view all the answers

How does the interest rate increase affect businesses with high financial leverage?

It has a substantial or very high effect Signup and view all the answers

What is the expected effect of the interest rate increase on the proposed new business?

A low effect Signup and view all the answers

What is the expected trend in the disposable income of Filipino consumers?

It has substantially increased Signup and view all the answers

What is the expected effect of the trend in disposable income on the operations of new businesses?

A very high favorable effect Signup and view all the answers

What is the third level of environmental analysis mentioned in the text?

Industry analysis Signup and view all the answers