Podcast
Questions and Answers
Which of the following is NOT a definition of planning?
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?
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?
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?
What is the main purpose of planning?
Which of the following is NOT a characteristic of a plan?
Which of the following is NOT a characteristic of a plan?
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