Recent Lessons

Show all results for ""

Feature Overview

Ace your exams with our all-in-one platform for creating and sharing quizzes and tests.

Quizzes

Create quizzes and tests automatically from your content using AI.

Flashcards

Automatically turn your notes into digital flashcards.

Share, Export & Embed

Share with classmates or export to Excel and your learning management system.

Stats & Reporting

Auto-grading quizzes and tests with detailed stats and reports.

Mobile Apps

The smarter way to study – wherever you are.

Pricing

Search...

Entrepreneurship Business Planning Principles

12 Questions

2 Views

Entrepreneurship Business Planning Principles

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

What is a key reason for the importance of a business plan?

To serve as a guide in implementing the business (correct)

To discourage potential investors

To protect the general picture of the business project

To increase the cost of starting a business

Which stage of business planning involves creating a budgeting system?

Unplanned stage

Annual planning stage (correct)

Flexible start with a simple project stage

Strategic planning stage

What is the first step in business planning according to the text?

Prepare a production plan

Choose proper business location

Evaluate your personal resources and interest (correct)

Analyze your market

In business planning, what does SWOT stand for?

Strengths Weaknesses Opportunities Threats Signup and view all the answers

What are some characteristics of a sound business plan?

Clear and flexible Signup and view all the answers

Why is it important to prepare an organization plan in business planning?

To outline the managerial structure and responsibilities Signup and view all the answers

Which stage of business planning involves setting objectives, strategies, and a time frame?

Strategic planning stage Signup and view all the answers

What is the primary purpose of a business plan according to the text?

To serve as a guide in implementing the business Signup and view all the answers

Which step in business planning involves evaluating personal resources, community resources, and market analysis?

Evaluating personal and community resources Signup and view all the answers

What are the key components of a sound business plan according to the text?

Objective, clear, and flexible Signup and view all the answers

Why is planning in business described as needing to be realistic, based on folk needs, and flexible according to the text?

To accommodate changing market conditions Signup and view all the answers

In business planning, what does SWOT stand for according to the text?