Entrepreneurship Business Planning Quiz
10 Questions
2 Views

Entrepreneurship Business Planning Quiz

Created by
@ConciseAgate9247

Podcast Beta

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is a business plan for entrepreneurs?

  • A game plan for managing the business successfully.
  • A systematic, realistic evaluation of a venture's chances for success in the market. (correct)
  • A strategic plan for a business that must be supplemented by operational plans once financing is secured.
  • A way to determine the principal risks facing the venture.

    • Which document summarizes the analysis done to justify a new business?

  • Financial statement
  • Pro forma
  • Cash budget
  • Business plan (correct)

    • How is a business plan developed?

  • Forces an entrepreneur to think a business idea through, considering both its positive and its negative aspects. (correct)
  • Through an intuitive process by which the entrepreneur records his/her plans for the business in the future.
  • Is a strategic plan for a business that must be supplemented by operational plans once financing is secured.
  • Focuses on the internal elements of the business.

    • What functions does a business plan perform?

    <p>Attracting capital for the start-up.</p> Signup and view all the answers

    What is one of the focuses of a business plan?

    <p>Outlining marketing strategies for the new product or service.</p> Signup and view all the answers

    What is the primary purpose of a business plan for entrepreneurs?

    <p>A systematic, realistic evaluation of a venture's chances for success in the market</p> Signup and view all the answers

    Which document becomes the summary of the analysis done to justify a new business?

    <p>Business plan</p> Signup and view all the answers

    How is a business plan typically developed by entrepreneurs?

    <p>By forcing an entrepreneur to think through a business idea, considering both positive and negative aspects</p> Signup and view all the answers

    Which function does a business plan NOT typically perform?

    <p>Identifying how many employees will be needed in the business start-up phase</p> Signup and view all the answers

    What is the primary focus of a business plan?

    <p>Focusing on the internal elements of the business</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser