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Questions and Answers

Which of the following is NOT a definition of planning?

  • Document that outlines how goals are going to be met
  • Setting goals and deciding how to achieve them
  • Coping with uncertainty by formulating future courses of action
  • Outlining the need the firm will fill and expected revenues and expenses (correct)

What is a business plan?

  • A document that outlines a proposed firm's goals, strategy, and standards for measuring success (correct)
  • A document that outlines how goals are going to be met
  • A document that outlines the operations and components of the business
  • A document that outlines the need the firm will fill and expected revenues and expenses

What is a business model?

  • A document that outlines the need the firm will fill and expected revenues and expenses (correct)
  • A document that outlines how goals are going to be met
  • A document that outlines the operations and components of the business
  • A document that outlines a proposed firm's goals, strategy, and standards for measuring success

What is the main purpose of planning?

<p>Setting goals and deciding how to achieve them (A)</p> Signup and view all the answers

Which of the following is NOT a characteristic of a plan?

<p>Defines the operations and components of the business (C)</p> Signup and view all the answers

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