Factors to Determine Market Potential
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Questions and Answers

What is the purpose of a business plan?

  • To visualize the future of a business (correct)
  • To summarize financial data
  • To track daily operational tasks
  • To analyze employee performance

    • Which of the following is NOT a reason for making a business plan according to the text?

  • Vision
  • Opportunity assessment
  • Employee satisfaction (correct)
  • Market Assessment

    • What does 'Vision' refer to in the context of making a business plan?

  • An analysis of market trends
  • A detailed overview of the industry landscape
  • A mental image of the desired future state of the business (correct)
  • A summary of current financial standings

    • What does 'Market Assessment' involve when creating a business plan?

    <p>Analyzing market competition and regulations</p> Signup and view all the answers

    What does 'Implementation of the Plan' involve in a business context?

    <p>Executing documented steps to achieve goals</p> Signup and view all the answers

    Why is Opportunity Assessment important in the context of creating a business plan?

    <p>To identify growth opportunities based on market research</p> Signup and view all the answers

    Which aspect is NOT typically included in good financial planning for a business plan?

    <p>Employee salaries</p> Signup and view all the answers

    'Market Size' refers to which aspect of a business plan?

    <p>Evaluation of potential consumers</p> Signup and view all the answers

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