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Mastering Business Planning
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Mastering Business Planning

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Questions and Answers

Which of the following is NOT included in a business plan?

  • A projected profit and loss statement
  • The nature of the business (correct)
  • The financial background
  • The sales and marketing strategy

    • What is the purpose of a business plan?

  • To secure funding for the business (correct)
  • To outline the daily operations of the business
  • To guarantee success in business
  • To provide a detailed analysis of the competition

    • What are some common causes of business failure that a business plan can help avoid?

  • Excessive competition
  • Over-capitalization
  • Lack of an adequate market (correct)
  • Inefficient daily operations

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