Podcast
Questions and Answers
What is a key reason for the importance of a business plan?
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?
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?
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?
In business planning, what does SWOT stand for?
What are some characteristics of a sound business plan?
What are some characteristics of a sound business plan?
Why is it important to prepare an organization plan in business planning?
Why is it important to prepare an organization plan in business planning?
Which stage of business planning involves setting objectives, strategies, and a time frame?
Which stage of business planning involves setting objectives, strategies, and a time frame?
What is the primary purpose of a business plan according to the text?
What is the primary purpose of a business plan according to the text?
Which step in business planning involves evaluating personal resources, community resources, and market analysis?
Which step in business planning involves evaluating personal resources, community resources, and market analysis?
What are the key components of a sound business plan according to the text?
What are the key components of a sound business plan according to the text?
Why is planning in business described as needing to be realistic, based on folk needs, and flexible according to the text?
Why is planning in business described as needing to be realistic, based on folk needs, and flexible according to the text?
In business planning, what does SWOT stand for according to the text?
In business planning, what does SWOT stand for according to the text?
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