General Knowledge Quiz

For entrepreneurs, a business plan is:

A business plan performs a number of functions including:

The ________ becomes the document that summarizes the analysis that has been done to justify a new business.

A business plan:

A well-developed business plan provides the entrepreneur with a number of benefits, such as:

The primary purpose of building a business plan is to:

The second essential purpose for creating a business plan is:

Potential investors tend to believe that if an entrepreneur can't develop a good plan:

Which one of the following is not a 'test' that an entrepreneur's business plan must pass?

The real value in preparing a business plan is:

The ________ is the first part of the business plan. It summarizes all the relevant points of the deal, but it should be the last part written.

The ________ expresses the entrepreneur's vision for the company and what he/she hopes it will become.

The ________ highlights significant financial and operational events in the company's life and should concentrate on the company's accomplishments.

The ________ acquaints lenders and investors with the nature of the business and the general goals and objectives of the company.

________ are long-range, broad statements of what the company plans to accomplish in the distant future, and they guide the overall direction of the company.

The company's overall direction and answer to the question, 'Where do I want the company to be in 3 to 5 years?' is answered in this section of the business plan.

________ are short-term, specific targets which are attainable, measurable, and controllable.

The business and industry profile section of the business plan includes:

A solid business plan is marked by a number of characteristics including:

Discussion of profitability and anticipated profitability of firms in the market segment, along with the entry, exit, and merger of those firms, is all part of the ________ section of the business plan.

In the business strategy section of the business plan, the owner needs to explain to investors:

Kyoto is writing a description of her new venture's product line and how it compares to her competitors' product lines. She is writing the ________ portion of her business plan.

17. The company's overall direction and answer to the question, "Where do I want the company to be in 3 to 5 years?" is answered in this section of the business plan.

24. Defining the target market's potential and describing its characteristics is part of the:

25. Proving that a profitable market exists involves:

26. An effective market analysis identifies: A) your product's competitive advantage.

27. An explanation of how the product will be distributed is contained within the: A) description of the product line.

28. The focus of the competitor analysis section of the business plan is to: A) demonstrate the existence of the market for your product.

29. Investors look for which of the following when reviewing the experience of the management team of a new venture?

30. The organization chart is described in which section of the business plan?

A business plan for the small business owner is:

______ is the process of creating and delivering desired goods and services to customers, and involves all of the activities associated with winning and retaining loyal customers.

Small businesses can compete with larger rivals with bigger budgets by employing unconventional, low-cost creative techniques known as:

The focus of the small company's marketing plan is:

The marketing plan builds a strategy for success:

The marketing plan should include certain key objectives, such as:

Shifting patterns in the age, income, education, race, and other characteristics of the population are the subject of ______ and exert a potent force on a company's marketing plan.

Entrepreneurs who recognize demographic, social, and cultural trends as they emerge have the opportunity to ______ their companies from the competition in meaningful ways.

Market research:

Market research answers what important question for the small business owner?

The primary goal of marketing research is to:

The marketing goal of a small business is to treat each customer as a(n):

When it comes to gathering market research on customers, most small companies tend to be:

One-to-one marketing is a marketing strategy that:

Market research for a small business can be:

Effective one-to-one marketing involves:

______ is a process in which computer software that uses statistical analysis, database technology, and artificial intelligence finds hidden patterns, trends, and connections in data so that business owners can make better marketing decisions and predictions about customer's behavior.

Most marketing experts contend that the greatest marketing mistake small businesses make is:

When it comes to the target market, most successful businesses:

The key to marketing success is:

Clementine, DataScope Pro, GoldMine, and MineSet are what type of software packages?

A company's competitive edge is:

One "natural" advantage small businesses have over large businesses, which can be a significant competitive advantage, is:

The worst marketing catastrophe to befall any business would be to:

The total quality management (TQM) concept:

______ recognizes that any improvement in quality may improve a company's competitive ability.

Companies with strong reputations for quality follow certain guidelines, such as:

Studies show that customers want ______ from businesses almost more than anything else.

TCM is the acronym for:

Small businesses are able to maintain a leadership role in innovation by:

A key to effective innovation by the entrepreneur is:

Small companies with limited financial resources can often use ______ as a way to differentiate themselves from larger competitors.

Numerous surveys have concluded that the most important element of service is:

Time compression management (TCM) involves:

The primary opportunity for time compression management (TCM) lies in its application to:

______ refers to developing, maintaining, and managing long-term relationships with customers so that they will want to keep coming back.