COPY: Entrepreneur 12 Module 2 Executive Summary Quiz
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Questions and Answers

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

  • To define the business model and wealth improvement approaches
  • To provide a detailed examination of the business elements
  • To describe the analogy used to visualize the business structure
  • To summarize the main points of the business plan (correct)

    • What does an environmental analysis help determine for a business?

  • The description or analogy used to visualize the business structure
  • The financial activities of the business
  • The external and internal factors affecting the business performance (correct)
  • The wealth improvement approaches for the business

    • Which section is commonly the last to be written in a business plan?

  • Wealth improvement approaches
  • Executive summary (correct)
  • Business and product position
  • Parties supporting the business

    • What does the term 'model' refer to in the context of a business?

    <p>A description or analogy used to visualize something that cannot be directly observed</p> Signup and view all the answers

    What must be clearly stated and easily understood in the executive summary of a business plan?

    <p>The vision, mission, goals, and objectives of the business</p> Signup and view all the answers

    What does an executive relate to according to the text?

    <p>Having the power to put plans or actions into effect</p> Signup and view all the answers

    What is the primary objective of reviewing and revisiting the business model every three years?

    <p>To assess whether the business model is still reasonable and achievable due to changes in the business community</p> Signup and view all the answers

    What does the business model define?

    <p>The perspective of the business in terms of its structure, production, operation, and financial activities</p> Signup and view all the answers

    What does the 'Wealth Improvement Approaches' section describe?

    <p>The methodologies or approaches to maintain competitive advantage and maximize resource utilization</p> Signup and view all the answers

    What do political forces, economic forces, socioeconomic forces, technological forces, ecological forces, and legal forces represent?

    <p>The environmental analysis section of a business plan</p> Signup and view all the answers

    What is considered the heart of a business plan?

    <p>Environmental analysis</p> Signup and view all the answers

    Which section of a business plan provides enough knowledge about the global perspective or horizon of the business?

    <p>Global analysis</p> Signup and view all the answers

    What is involved in the industry analysis section of a business plan?

    <p>Conducting a critical evaluation of forces affecting the proposed business, evaluating its probable position in the industry, and determining an appropriate strategy</p> Signup and view all the answers

    What variables are included in societal analysis section of a business plan?

    <p>Political forces, economic forces, socioeconomic forces, technological forces, ecological forces, and legal forces.</p> Signup and view all the answers

    What does environmental analysis help determine for a business?

    <p>The external and internal factors affecting the performance of the business.</p> Signup and view all the answers

    What do suppliers represent in a business plan?

    <p>Parties supporting the business.</p> Signup and view all the answers

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